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ble On November 1, 2016, Bug Busters collected $9,000 in advance for three months of...

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Accounting

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ble On November 1, 2016, Bug Busters collected $9,000 in advance for three months of service to be provided beginning on that date. Bug credited unearned service revenue for SS000. The books are r9000 adjusted only at year-end. Required: Prepare the adjusting entry required on December 31, 2016 Problem No. 3 Prepare Adiusting Entries (10 points) Bridge Company keeps a small inventory of supplies used for cleaning and maintenan purposes. On January 1, 2016, the inventory of supplies on hand was $2,000. During t supplies purchased were debited to the supplies account in the amount of $6,500. On December 31, 2016, the amount of supplies in the storeroom was $1,500. The books adjusted only at year-end. Required Prepare the adjusting entry required at December 31, 2016

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