80.2K

Verified Solution

Link Copied!

After winning the TV show competition Star Chef, Adriana started a cooking school, Adriana's Apron, Adriana's Apron prepares monthly financial statements. The following are the transactions for the month of September $2023.$ a$.$ On January $1,2023,$ Adriana took out a bank loan for $ $68,400$ with an interest rate of $5\%.$ Interest is payable on the first day of each following month. b$.$ Students paid $ $37,800$ in advance for cooking classes. At the end of the month, Adriana finished teaching $ $12,600$ worth of cooking classes. c$.$ During the month, Adriana purchased supplies for her cooking classes such as meats and cheese for $ $7,400.$ At the end of the month, a physical count shows that $ $1,480$ of supplies are left. d$.$ On September $1,$ Adriana purchased a refrigerator costing $ $3,240.$ This equipment will be used for $5$ years and then donated to the food bank. e$.$ Adriana was hired to teach at a food festival, She taught the "Secrets to ltalian Cooking" on September $30$ and sent the festival organizers an invoice for $ $13,000.$ The involce was paid in full on October $15,2023.$ f$.$ Adriana will pay salaries of $ $4,340$ for two weeks $(14$ days$)$ on October $9,2023.$ At the end of the month, nine days of salaries are unpaid and unrecorded.For transactions $($a$)$ to $($f$),$ help Adriana prepare the adjusting entries on September $30,2023.$ Journal entry worksheet

$[23456]$

Answer & Explanation Solved by verified expert

See Answer