How to prepare the reversing entries from the adjusting entries as follows and tranferrer to the ledger ?
| Advertising expenses prepaid |
800 |
| Advertising expenses |
800 |
|
| Salesmen's commissions |
700 |
| Salesmen's commissions accrued |
700 |
|
| Insurance expenses |
600 |
| Insurance expenses prepaid |
600 |
|
| Office machinery repairs |
300 |
| Office machinery repairs owing |
300 |
|
| Selling Expenses |
300 |
| Selling expenses accrued |
300 |
|
| Miscellaneous Expenses in advance |
100 |
| Miscellaneous expenses |
100 |
|
| Mortgage Interest Expenses |
1,500 |
| Mortgage Interest owing |
1,500 |
|
| Interest on bank loan |
400 |
| Interest on bank loan owing |
400 |
|
| Bank Interest Revenue accrued |
200 |
| Bank Interest Revenue |
200 |