Problem \#3-Adjusting entries - 10 Points The followinn trial halamna wase taken frnm tho honke...
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Problem \#3-Adjusting entries - 10 Points The followinn trial halamna wase taken frnm tho honke of Fick Cornoration on December 31, 2014. At year end, the following items have not yet been recorded. a. Insurance expired during the year, $3,200. b. Estimated bad debts, 3% of sales revenue. c. Depreciation on equipment, 8% per year on original cost. d. Interest at 5% is receivable on the note for one full year. (Calculate from Notes Receivable) e. Accrued salaries and wages at December 31,$2,500. Instructions (a) Prepare the necessary adjusting entries on the next page. Make sure I can see which accounts an amounts are debits and which accounts and amounts are credits. Use answer sheet next paqe
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