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Tcecarenko [31]
3 years ago
11

Adjusting entries.

Business
1 answer:
Dafna11 [192]3 years ago
3 0

Answer:

J1

Inventory $7,350 (debit)

Trading Account - 2012 $7,350 (credit)

J2

Inventory $22,150 (debit)

Trade Payable  $22,150 (credit)

J3

Write down of Inventory $20,690 (debit)

Inventory $20,690 (credit)

J4

Note Receivable $20,000 (debit)

Bank $20,000 (credit)

J5

Rent Prepaid $12,000 (debit)

Bank $12,000 (credit)

Explanation:

J1

Being Inventory on hand at begining of the year

J2

Being Inventory supplies acquired.

J3

Being inventory written down after physical count.

Inventory = $7,350 + $22,150 - $8,810 = $20,690

J4

Being Note received from a customer

J5

Being Rent for 1 year received in advance

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Explanation:

Hope this helps. Sorry, it took a while. :)

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