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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or...

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Accounting

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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use Unadj. Bal. as the label for the opening balance of each account. Calculate the adjusted balance and use a Bal. posting reference to show the ending balance of each account. Enter each transaction on the first available line in the T- Account Recieved a bill for utilities for $7,920 which will be paid next month. Adjustment Type: Utilities Expense Utilities Payable Employees earned S2, 190 in salaries that will be paid next month. The Salaries Expense unadjusted balance as of December 31 is $11,000. Adjustment Type: Salaries Expense Salaries Payable A two-year insurance policy for $2,640 was purchased on November 1 of the current year. Record the transaction for the two months ended December 31. Adjustment Type: Insurance Expense Prepaid Insurance

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