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Problema 1. Adjusting Entries (15 marks in toal, 3 marks for each adjusting entry) Alyek...

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Accounting

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Problema 1. Adjusting Entries (15 marks in toal, 3 marks for each adjusting entry) Alyek end, the several items have not yet been recorded a Prepare adjusting entry to accrue sales revenue at December 31, 35,000 The following trial balance was taken from the books of Fisk Corporation on December 2010 Acco b. Prepare adjusting entry to record estimated bad debts, 5% of gross receivable (gross receivable means Accounts Receivable + Notes Receivable). 40,000 Accounts Receivable Note Receivable 7.000 $180 c. Prepare adjusting entry to record depreciation on turniture and equipment, 10% of original purchase cost per year. 44.000 Allowance for Doubtful Accounts Merchandisewentory Prepaid ingrance furniture and court Accumulated Depreciation-fwnture open. & Accounts Payable Common Stock 125.000 15.000 d. Prepare adjusting entry to record interest at 8% on the note receivable for one Milyear. 14.000 Metained Earnings 95.000 280,000 Prepare adjusting entry to record insurance paid in advance for one year at October 31. 54.800 111.000 Cost of Good Solid Salaries Expen Hent pense 12.000 Prepare adjusting entry to accrued stones at December 31, 55,800 Total SARIO

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