[balvinder1234]

Please help me with transaction numbers (ONLY 1,2,4,6,8,10 and 13) *note- if I did not include the numbers, that means that I got the numbers right but not the entries (my attempted answers at bottom)

1. Joachim paid the local newspaper $350 for an advertisement to be run in January of the next year, and charged it to Advertising Expense.
2. On November 1, Joachim signed a three-month, 11% note to borrow $16,800 from Yorkville Bank.
3. The following salaries and wages are due and unpaid at December 31: sales, $1,460; office clerks, $1,000.
4. Interest of $400 has accrued to date on a note that Joachim holds from Grant Muldaur.
5. The estimated loss on bad debts for the period is $1,400.
6. Stamps and stationery are charged to the Office Expense account when purchased; $100 of these supplies remain on hand.
7. Joachim has not yet paid the December rent of $1,200 on the building his business uses.
8. Insurance was paid on November 1 for one year and charged to Prepaid Insurance, $984.
9. Property tax accrued, $1,900.
10. On December 1, Joachim accepted Alana Palmer's two-month, 15% note in settlement of her $6,000 account receivable.
11. On October 31, Joachim received $2,700 from Tareq Giza in payment of six months’ rent for Giza’s office space in the building and credited Unearned Rent Revenue.
12. On September 1, Joachim paid six months’ rent in advance on a warehouse, $8,400, and debited the asset account Prepaid Rent.
13. The bill from Light & Power Limited for December has been received but not yet entered or paid, $400.
14. The estimated depreciation on equipment is $1,300.

My attempted answers:

1. DB prepaid expense
CR cash (WRONG entry)

2. DB interest expense (wrong numbers) 1232
CR interest payable 1232

4. DB interest expense (wrong entries)
CR interest payable

6. Not sure at all

8. DB insurance expense (wrong numbers) 820
CR prepaid insurance 820

10. DB interest receivable (wrong numbers) 450
CR interest income 450

13. Db operating expense (wrong entries)
CR accounts payable






Instructions: Prepare annual adjusting entries as at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)