1. Page No: 180 -181
Problem No: 4.2
Adjusting Entries
NO:
a.
b.
c.
ADJUSTMENTS
Interest receivable
Interest revenue
DEBIT $
875
Interest expense
Interest payable
(90,000*.10*1/12=750)
750
Depreciation expense
Accumulated expense: Vehicle
(25,200/4=6,300/12=525)
CREDIT $
525
875
750
525
d.
No ! Entry required
e.
Salaries expense
Salaries payable
9,900
Rent receivable
Rental revenue
12,500
Unearned rental revenue
Rental revenue
(18,000/6=3,000)
3,000
Transportation expense
Transportation payable
(50*22=1,100)
1,100
f.
g.
h.
Adjusting Entries
9,900
12,500
3,000
1,100