In: Accounting
Adjusting Entry no. |
Accounts title |
Debit |
Credit |
1 |
Accounts receivables |
$ 875.00 |
|
Service revenue |
$ 875.00 |
||
(revenue earned now recorded) |
|||
2 |
Utilities expense |
$ 650.00 |
|
Utilities Payable |
$ 650.00 |
||
(Amount due to be paid) |
|||
3 |
Depreciation expense |
$ 400.00 |
|
Accumulated Depreciation - Equipment |
$ 400.00 |
||
(depreciation recorded) |
|||
4 |
Interest expense |
$ 500.00 |
|
Interest payable |
$ 500.00 |
||
(Interest accrued to be paid) |
|||
5 |
Insurance Expense [1 month insurance = 24000/12] |
$ 2,000.00 |
|
Prepaid Insurance |
$ 2,000.00 |
||
(1 month insurance expired) |
|||
6 |
Supplies expense |
$ 1,200.00 |
|
Supplies |
$ 1,200.00 |
||
(Supplies consumed = 1600 - 400) |