During its first month of operation, Peter's Auto Supply Corporation, which specializes the sale of...
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Accounting
During its first month of operation, Peter's Auto Supply Corporation, which specializes the sale of auto equipment and supplies, completed the following transactions. Use the following account descriptions for journal entries. RFOIIREMENT Az: Prenare a trial halance for Inlv in the snace helow. Requirement #4: Prepare adjusting entries using the following information in the General Journal below: Show your calculations! a) One month's insurance has expired. b) One month's prepaid Rent has expired. c) The company accrued salaries of $6,000 that will be paid in August. d) Accrued interest on the note payable amounts to 5250 . REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below. Requiremeet a8: Prepare the closing entries at July 31 in the Ciencral Journal below. fine: Lse the balances for each account which appear on the Adjuated Trial italanke for your closing entrics. Reguirement in9. Poot the closing cntries to the T-Accounts on the General Ledger ( Step 2) workshest and compute ending balances. Just add to the adjusted balances already listed. Reguiremet 10 : Pripare a post-closing trial Balance as of Jully 31 in the space below
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