Answer:
a.
Debit : Balance Sheet $520
Credit : Supplies $520
b.
Debit : Insurance expense $120
Credit : Prepaid Insurance $120
c.
Debit : Depreciation expense $135
Credit : Accumulated depreciation expense $135
d.
Debit : Unearned Revenue $950
Credit : Revenue Earned $950
e.
Debit : Trade Receivable $250
Credit : Service Revenue $250
f.
Debit : Interest expense $75
Credit : Note Payable $75
g.
Debit : Salaries expense $1,520
Credit : Accounts Payables $1,520
Explanation:
So adjusting entries are done at the end of the reporting period, in this case it is the end of October.
For most of these entries we recognize expenses and a corresponding decrease in assets or increase in liabilities.
As for revenue previously unearned, we have to recognize the revenue portion now earned.
