Four transactions described below were completed during 2019 by Russell Company.The books are adjusted only at year-end.
A.On December 31,2019,Russell Company owed employees $3,750 for wages that were earned by them during December and were not recorded.
B.During 2019,Russell Company purchased office supplies that cost $1,000,which were placed in the supplies room for use as needed.The purchase was recorded as follows:
At January 1,2019,the amount of unused office supplies was $300.At December 31,2019,a physical count showed unused office supplies in the supply room amounting to $100.
C.On December 1,2019,Russell Company rented some office space to another party.Russell Company collected $900 rent for the period December 1,2019,to March 1,2020.The December 1 transaction was recorded as follows:
D.On July 1,2019,Russell Company borrowed $12,000 cash on a one-year,8% interest-bearing note payable.The interest is payable on the due date of the note,June 30,2020.The borrowing was recorded as follows on July 1,2019:
Provide the adjusting entries required for Russell Company on December 31,2019.

Question

Four transactions described below were completed during 2019 by Russell Company.The books are adjusted only at year-end.
A.On December 31,2019,Russell Company owed employees $3,750 for wages that were earned by them during December and were not recorded.
B.During 2019,Russell Company purchased office supplies that cost $1,000,which were placed in the supplies room for use as needed.The purchase was recorded as follows:
  At January 1,2019,the amount of unused office supplies was $300.At December 31,2019,a physical count showed unused office supplies in the supply room amounting to $100.
C.On December 1,2019,Russell Company rented some office space to another party.Russell Company collected $900 rent for the period December 1,2019,to March 1,2020.The December 1 transaction was recorded as follows:
  D.On July 1,2019,Russell Company borrowed $12,000 cash on a one-year,8% interest-bearing note payable.The interest is payable on the due date of the note,June 30,2020.The borrowing was recorded as follows on July 1,2019:
  Provide the adjusting entries required for Russell Company on December 31,2019.

Quizplus · Accepted Answer

The Answer of Four transactions described below were completed during 2019 by Russell Company.The books are adjusted only at year-end.
A.On December 31,2019,Russell Company owed employees $3,750 for wages that were earned by them during December and were not recorded.
B.During 2019,Russell Company purchased office supplies that cost $1,000,which were placed in the supplies room for use as needed.The purchase was recorded as follows:
  At January 1,2019,the amount of unused office supplies was $300.At December 31,2019,a physical count showed unused office supplies in the supply room amounting to $100.
C.On December 1,2019,Russell Company rented some office space to another party.Russell Company collected $900 rent for the period December 1,2019,to March 1,2020.The December 1 transaction was recorded as follows:
  D.On July 1,2019,Russell Company borrowed $12,000 cash on a one-year,8% interest-bearing note payable.The interest is payable on the due date of the note,June 30,2020.The borrowing was recorded as follows on July 1,2019:
  Provide the adjusting entries required for Russell Company on December 31,2019.

Four Transactions Described Below Were Completed During 2019 by Russell