You are to record journal entries for Birch Ltd. (Birch) for transactions a through h...
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Accounting
You are to record journal entries for Birch Ltd. (Birch) for transactions a through h that follow in the grid below Debits must come before and be on a separate line from credits. There are extra rows in the grid. You are not required to provide explanations, but you should show calculations. You can click on the grid to make the grid larger on your screen. a) Paid total salaries of $2,200. This amount includes $600 owing in salaries payable and the balance represents salaries for the current period. Date Debit account Credit account Debit $ Credits a) b) Earned service revenue of $25,000. Of this amount, $10,000 was received in cash. The balance was on account Date Debit account Credit account Debits Credits b) c) Bitch has equipment that was purchased two years ago at a cost of 516,000. The equipment has a useful life of four years. You are to record depreciation for the current year. Date Debit account Credit account Debit $ Credits c) d) Purchased $2,500 of supplies inventory on account (on credit). Date Debit account Credit account Debit 5 Credits d) e) Of the $2,500 in supplies inventory that was purchased, only 5800 of supplies were still on hand at the end of the accounting period Date Debit account Credit account Debits Credits e) 1) Paid $1,750 to suppliers for supplies inventory that were previously purchased on credit Date Debit account Credit account Debit S Credits e) Onits unadjusted trial balance Birch has a balance of $3,000 in its unearned revenue account An adjusting entry is needed to recognize that $2,000 of this amount has been earned as service revenue by the end of the accounting period. Date Debit account Credit account Debits Credits 3 h) Birch recorded a closing journal entry to close office expenses of $25,000. Date Debit account Credit account Debits Credits h)




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