Record adjusting Journal entries for each separate case below for year ended December 31. ...

90.2K

Verified Solution

Question

Accounting

Record adjusting Journal entries for each separate case below for year ended December 31.
Assume no other odjusting entries are mode during the yeor.
a. Accourts Recelvable. At year-end, the L. Cole Company has completed services of $26,500 for a client, but the client has not yet been blled for those sevices.
b. Interest Recelvable. At year-end, the company has earned, but not yet recorded, $690 of interest earned from its investments in government bonds.
c. Accounts Recelvable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,900 of work.
Journal entry worksheet
Print
Roferences
At yesr-end, the L. Cole Company has completed services of $26,500 for a elient, but the client has not yet been blled for those services.
\table[[Transaction,Bonoral Journal,Doblt,Crodit],[c.,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
Record odjusting journsi entries for each separate case below for year ended December 3.
Assume no other odjusting entries ore mode during the year
6. Solories Poysble. At yesrend, salsies expense of $22,000 has been incurred by the company, but is not yet paid to employees.
b. Interest Payable. At ts December 31 yez end, the compony owes $575 of interest on a loan. That interest will not be paid untl sometime in Janusry of the next yest.
c. Interest Payable. At lis December 31 year-end, the company hoids a mortgage payable that has incurred $1,200 in annual interest that is nelther recorded nor paid. The company intends to pay the interest on January 7 of the next year.
Journal entry worksheet
123
At year-end, salaries expense of $22,000 has been incurred by the company, but is not yet paid to employees.
\table[[Tranfaction,Bonoral Joumal,Doblt,Crodit,],[a.,Ealaries expense,,,],[,Ealaries payable,,,],[,,,,],[,,,,],[,,,,],[,,,,]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students