Below are a list of transactions that occurred and were appropriately recorded) for PeeDee Company...
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Below are a list of transactions that occurred and were appropriately recorded) for PeeDee Company throughout the year. Based on the information given record any necessary adjustlos entries at year end (December 31). Hint You should have a total of 5 adjusting journal entries Date Transaction April 30 Purchased a 12 month insurance policy for $1.200. Received $4.000 in advance for services to be performed evenly over the next year, beginning immediately (ie, October 1 through September 30). October 1 August 15 Purchased $800 of office supplies. Additional Information: The Office Supplies account had a $1,000 balance at the beginning of the year, and a physical count of supplies on hand indicated that $700 of supplies remained at year end. . Interest on a note receivable that has accumulated but has not been received totals $600. . The income tax rate is 35%, and income tax will be paid in January of next year. Pre-tax income before adjusting entries was $900,000
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