70.2K

Verified Solution

Link Copied!

Journal entry worksheet Record cash received in advance for services to be provided. Note: Enter debits before credits. Journal entry worksheet Record cash paid in advance for a one-year insurance policy. Note: Enter debits before credits. Journal entry worksheet 123 Record adjusting entry for prepaid insurance. Note: Enter debits before credits. Journal entry worksheet 456 Record adjusting entry for supplies expenses. Note: Enter debits before credits. Journal entry worksheet Record adjusting entry for unearned revenue. Note: Enter debits before credits. Each of the following independent events requires a year-end adjusting entry. a. Paid $9,700 cash in advance on July 1 for a one-year lease on office space. b. Purchased $3,300 of supplies on account on April 15. At year-end, $340 of supplies remained on hand. c. Recelved $9,500 cash advance on July 1 for a contract to provide services for one year beginning immediately. d. Paid \$3,500 cash in advance on February 1 for a one-year insurance policy. Required Record each event and the related adjusting entry in general journal format. The first event is recorded as an example, Assume a December 31 closing date. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answer & Explanation Solved by verified expert

See Answer