i need the answers for thiss Record for Star Company the required adjusting journal entries...
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i need the answers for thiss Record for Star Company the required adjusting journal entries on December 31, 2020 for the below. a. On July 1, 2020, Star Company took a bank loan of $12,000 at 5% interest and will repay the full amount and interest on maturity of the loan one year later. b. On Sept 1, 2020, collected $4,500 as advance from a customer for services to be provided over the next one year. c. The unadjusted balance of the Supplies account was $2,360. Supplies on hand on Dec 31, 2019 was $800.
Record for Star Company the required adjusting journal entries on December 31, 2020 for the below.
a. On July 1, 2020, Star Company took a bank loan of $12,000 at 5% interest and will repay the full amount and interest on maturity of the loan one year later.
b. On Sept 1, 2020, collected $4,500 as advance from a customer for services to be provided over the next one year.
c. The unadjusted balance of the Supplies account was $2,360. Supplies on hand on Dec 31, 2019 was $800.
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