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At the End of the Annual Accounting Period, the Adjusting

Question 128

Essay

At the end of the annual accounting period, the adjusting entries for the following three items have not been made. You are to provide the 20X1 adjusting entry for each item.
A. Unpaid wages for the last two days of December, 20X1 amounting to $3,200 have not been recorded (disregard payroll taxes).
B. On December 1, 20X1 rent revenue of $600 was collected for December and January . (Rent revenue was credited for a total of $600).
C. A $4,000, six-month, 10% interest-bearing note payable was singed on October 1, 20X1.

Correct Answer:

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