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Question

Would the journal entries for this problem be the same? This is how I understood it.

Unused supplies

supplies exp.

Dep. Expense

Acc. Dep'n -Truck

Prepaide Ins.

Cash

Revenue

Unearned Rev-Rent

20200125_140648 (1).jpg

20200125_140648 (1).jpg

Required: Prepare the adjusting entry at December 31, 2019
CP 3-4
An extract from the trial balance of Armstrong Corp. at June 30, 2019 is
reproduced below:
Amount in
Amount in
adjusted
unadjusted
trial
lies
Account
trial balance
balance
ies ex
Unused office supplies
$ 190
$ 55
Accumulated depreciation - truck
0
400
Prepaid insurance
850
610
in truck
Interest payable
0
100
Unearned rent
1,000
500
Required: Prepare in general journal format the entries that were
posted, including a plausible description. General ledger
ded Rent
account numbers are not necessary.
Chapter 3 Discussion
CHAPTER THREE / Financial Accounting and the Use of Adjusting Entries First US Edition

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