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Make a general Journal with the transactions below 1) Supplies left at the end of the year were $415
Make a general Journal with the transactions below
1) Supplies left at the end of the year were $415.
2) The Prepaid Insurance account was for a one year policy. Six months of the policy has expired.
3) The annual depreciation for buildings totaled $2,000.
4) The annual depreciation for equipment totaled $1,200.
5) The Mortgage Payable resulted in accumulated interest of 2%.
6) The utilities owed, but not paid, were $250.
7) The company earned $6,000 of the unearned revenue account.
8) The salaries owed, but not paid, are $6,000.
9) Additional revenue
- Record all transactions into the General Journal.
Expert Solution
1. Supplies left at the end means closing stock
Closing stock a/c Dr $415
To Trading a/c $415
2. Insurance expense a/c Dr
To Prepaid insurance a/c
3. Depreciation a/c Dr $2000
To Building a/c $2000
4. Depreciation a/c Dr $1200
To Equipment a/c $1200
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