Prepare the adjusting journal entries for the following transactions. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
(1) supplies for office use were purchased during the year for $840, of which $270 remained on hand (unused) at year-end.
(2) interest of $420 on a note receivable was earned at year-end, although collection of the interest is not due until the following year.
(3) at year-end, salaries and wages payable of $5,300 had not been recorded or paid.
(4) at year-end, one-half of a $3,700 advertising project had been completed for a client, but nothing had been billed or collected.
(5) redeemed a gift card for $770 of services.
Answers: 2
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Prepare the adjusting journal entries for the following transactions. (if no entry is required for a...
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