The bookkeeper for Sandhill Co. asks you to prepare the following accrual adjusting entries at December 31. (a) Interest on notes payable of $420 is accrued. (b) Services performed but unbilled total $1,780. (c) Salaries of $750 earned by employees have not been recorded.
Added by Soledad C.
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(a) Enter $420 as accrued interest on notes payable. Show more…
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Brooke B.
The bookkeeper for Ogles Company asks you to prepare the following accrued adjusting entries at December 31: 1. Accrue interest on notes payable of $400. 2. Accrue services provided but not recorded, totaling $1,500. 3. Accrue salaries earned by employees of $900. Please use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries Expense, and Salaries Payable.
Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. Accounts Receivable. At year-end, the L. Cole Company has completed services of $19,000 for a client, but the client has not yet been billed for those services. Interest Receivable. At year-end, the company has earned, but not yet recorded, $390 of interest earned from its investments in government bonds. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,300 of work.
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