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    lisbettmatute's Avatar
    lisbettmatute Posts: 2, Reputation: 1
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    #1

    Aug 22, 2007, 07:57 PM
    Adjustments entries
    Make adjustment entries:

    1-Interest owed on a loan but not paid or recorded is $175. In other words, we owe interest due the fact that we borrowed money.


    2-Before adjustment, the general ledger (T-account) for office supplies had a balance of $350. At the end of the period, $70 of supplies were on hand.
    lisbettmatute's Avatar
    lisbettmatute Posts: 2, Reputation: 1
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    #2

    Aug 22, 2007, 07:58 PM
    Quote Originally Posted by lisbettmatute
    Make adjustment entries:

    1-Interest owed on a loan but not paid or recorded is $175. In other words, we owe interest due the fact that we borrowed money.


    2-Before adjustment, the general ledger (T-account) for office supplies had a balance of $350. At the end of the period, $70 of supplies were on hand.
    3-Prepaid rent had a $1,000 normal balance in the general ledger (T-account) prior to adjustment. By year end, $500 had expired
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #3

    Aug 22, 2007, 08:20 PM
    This sounds like homework to me.

    What do YOU think the answers are?

    Make an attempt at it first, then we will assist you.

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