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pashok25 [27]
3 years ago
9

Present all the journal entries including the adjustments that would be made on July 31, 2015, the end of the fiscal year, for e

ach of the following. 1. The supplies inventory on August 1, 2014 was $9,350. Supplies costing $22,150 were acquired in cash on September 11, 2014 and charged to the supplies inventory. A count on July 31, 2015 indicated supplies on hand of $8,810. There was no other transaction related to supplies during the fiscal year ending July 31, 2015. 2. On April 30, a ten-month, 6% note for $30,000 was received from a customer for lending the same amount to the customer. 3. On May 1, $12,000 was collected as rent for one year and the same amount was credited as Unearned Rent Revenue.
Business
1 answer:
Kamila [148]3 years ago
3 0

Answer:

Account Title                                                            Dr            Cr

Supplies Expense (22,150+9,350-8,810)..............22690

      Supplies....................................................................................22690

Interest Receivable .....................................................450

      Interest Revenue .......................................................................450

Rent Revenue.............................................................$7,000

      Unearned Revenue...............................................................$7,000

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