6.Present, in journal form, the adjustments that would be made on December 31, 2017, the...
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Accounting
6.Present, in journal form, the adjustments that would be made on December 31, 2017, the end of the fiscal year, for each of the following.Assume no adjusting entries have been made during the year, but the originating transactions were recorded
a. The supplies inventory on January 1, 2017 was $8,500. Supplies costing $22,500 were acquired during the year and debited to the supplies inventory. A count on December 31, 2017 indicated supplies on hand of $8,800.
b. On April 30, the company loaned a customer $20,000 with a ten-month, 6% note received from the customer.
c.On December 1, the company paid $12,000 for rent for one year and a prepaid rent was debited.
d. On December 22, the company performed services worth $20,000 and they have not billed the customer.
Adjusting Entries
a.
b.
c.
d.
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