3e-8 - Bryant is trying to prepare monthly financial...

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Exercise 3-8, Page 1 of 1, 02/24/2010, 07:36:39 Name: Exercise: E3-8, Adjusting Entries, (10-15 minutes) Course: Date: $2,900 estimated the bill would be approximately: $600 $60,000 The duration of the mortgage was 15 years with an annual interest rate of: 8% 4. A telephone bill for August is unpaid as of August 31 in the amount of: $117 1 Account Title Amount Account Title Amount Text / Memo line 2 Account Title Amount Account Title Amount Text / Memo line 3 Account Title Amount Account Title Amount Text / Memo line 4 Account Title Amount Account Title Amount Text / Memo line William Bryant is the new owner of Ace Computer Services. At the end of August 2010, his first month of ownership,
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Unformatted text preview: Bryant is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during August. 1. At August 31, Bryant owed his employees wages that will be paid on September 1 in the amount of 2. At the end of the month he had not yet received the monthly utility bill. Based on past experience, he 3. On August 1, Bryant borrowed money from a local bank. The amount was: Instructions: Prepare the adjusting entries as of August 31, 2010, suggested by the information above....
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