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Your accounting colleague Susan has asked you for assistance with balance day adjustments

Economics

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Your accounting colleague Susan has asked you for assistance with balance day adjustments. Susan has provided you with the following unrelated transactions:(a) Wages paid $8,400 – wages due but not yet paid $840(b) Insurance paid $1,400 – insurance paid in advanced $200(c) Accumulated depreciation on plant was $900 at the start of the year, depreciation expense is $300(d) Accounts receivable were $6,660 with bad debts to be written off $600 plus GST(e) Allowance for doubtful debts is $200 and is to be adjusted to 3% of accounts receivable