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Journalize the following December 31 transactions for Galestown Printing Services. No explanations are requireda. Equipment...

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Accounting

Journalize the following December 31 transactions for Galestown Printing Services. No explanations are requireda. Equipment cost $23,000 and is expected to be useful for 10 years, at which time it will have no residual value. Calculate and record amortization for the current year.b. Each Monday, Galestown pays employees for the previous week's work. The amount of weekly payroll is $3,500 for a seven-day workweek (Mondayto Sunday). This year December 31 falls on a Thursday.c. The beginning balance of Supplies was $2,700. During the year, Galestown purchased supplies for 53,200, and at December 31, the supplies on hand totalled $1,100.d. Galestown prepaid one year of insurance coverage on April 1 of the current year, $6,240. Record insurance expense for the year ended December 31.e. Galestown earned $3,500 of unearned revenue.f. Galestown incurred $170 of interest expense on a note payable that will not be paid until February 28g. Galestown billed customers 59,000 for printing services performed.

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