please resolve. Saved Lancaster Company must make three adjusting entries on December 31,...
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Saved Lancaster Company must make three adjusting entries on December 31, 20X1. 0. Supplies used, $9,200 (supplies totaling $14,400 were purchased on December 1, 20X1, and debited to the Supplies account). a. Expired insurance, $6,400; on December 1, 20x1, the firm paid $38,400 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. b. Depreciation expense for equipment, $4,000. Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts. Complete this question by entering your answers in the tabs below. General Journal Ledger Prepare the journal entries for the above adjustments. View transaction list Journal entry worksheet 1 2 3 Prepare the adjusting entry for supplies.
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