Adjusting journal entries required at December 31, 2021: 1. Supplies purchased earlier in the accounting...
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Accounting
Adjusting journal entries required at December 31, 2021: 1. Supplies purchased earlier in the accounting period, 2021, for $5,000. At December 31, 2021 $2,000 of supplies remain. 2. Rent of $12,000 was paid for the period October 2020 thru September 2021. 3. Insurance of $6,000 was paid for the period July 1, 2020 thru June 30, 2021. 4. Employees had earned $5,000 of salaries in 2021 that were not paid at the end of 2021. 5. A customer paid $10,000 on November 1, 2021 for services to be provided in the future. Thru December 31, 2021 $7,000 of the services have been provided. 6. Utility bill for $800 was received December 31, 2021 for utilities used during December. The bill will be paid January 15, 2022
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