ABM-adjustments2.docx - Name Date: From the following...

Name______________________________________________ Date:_________________
From the following given data, prepare adjusting journal entries for the year ended December 31, 2018:
a. Purchased of supplies for P3,000. At the end of the year, P1,000 cost of supplies were actually used.
b. A P48,000 6% 120-day note was received from a client dated November 1, 2018. The interest was
not yet collected at the end of the year.
c. Before adjustments, the balance of laundry supplies inventory was P35,000. Physical count of
supplies inventory was P15,000.
d. An office equipment was acquired on May 31, 2018 for P150,000. The office equipment has an
estimated life of five years with no residual value.
e. A copying machine was rented on November 30, 2018 at P1.00/copy of production. It reported to