Answer:
supplies expense 570 debit
supplies 570 credit
----------------------------
interest receivable 420 debit
interest revenue 420 credit
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wages expense 5,300 debit
wages payable 5,300 credit
-------------------------
Account receivable 3,700 debit
Fees earned 3,700 credit
-----------------------
unearned revenue 770 debit
fees revenues 770 credit
-------------------------
Explanation:
use of supplies:
purchase - ending supplies
840 - 270 = 570
we decrease the supplies account by this amount and declare the supplies expense
we declare the interest revenue for the period
wages expense for the period and because are unpaid generates a liability
as the job is perform the revenue is earned so we can declare it even if we didn't bill the customer yet.
we have a gift card for 770 and we used for
the gift card was considered unearned revenue at the time being. Now that is redeem we can recognize this revenue.
