Prepare the following adjusting journal entries. 1. Services billed for the period of $12,000 2. Wages accrued...

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Accounting

Prepare the following adjusting journal entries.
1. Services billed for the period of $12,000
2. Wages accrued for the week of $1,200
3. Property taxes accrued for the month of $2,000
4. Supplies used during the period of $1,700
5. Depreciation on equipment of $2,000, on computers of $1,000,on furniture and fixtures of $1,000, and on buildings of $3,000
6. Prepaid Insurance that expired during the month of $2,400
7. Prepaid rent from prior month of $1,000
8. Unearned rental revenue of $2,000 that was earned during theperiod.
9. Accrued interest of 1-month based on $100,000 loan at 6%.
10. Accrued interest of 1-month based on savings accountinvestment of $10,000 at 6%

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Solution Journal Entries Event Particulars Debit Credit 1 Accounts receivables Dr 1200000 To Service revenue 1200000 To record service revenue 2 Wages expense Dr 120000 To Wages Payable 120000 To record wages due 3 See Answer

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