In the journal provided, prepare adjusting entries for the following items. Omit explanations.
a. Depreciation on machinery is $940 for the accounting period.
b. Interest incurred on a loan but not paid or recorded is $635.
c. Office supplies of $600 were on hand at the beginning of the period. Purchases of office supplies during the period totaled $200. At the end of the period, $80 in office supplies remained.
d. Commissions amounting to $540 were earned but not recorded or collected by year end.
e. Prepaid Rent had an $8,000 normal balance prior to adjustment. By year end, 40 percent had expired.
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General Journal
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Page 1
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Date
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Description
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Post.
Ref.
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Debit
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Credit
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a.
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Depreciation Expense-Machinery
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Accumulated Depreciation-Machinery
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b.
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Interest Expense
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Interest Payable
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c.
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Office Supplies Expense
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Office Supplies
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d.
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Accounts Receivable
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Commissions Earned
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e.
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Rent Expense
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Prepaid Rent
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