The following
items should be considered in adjusting the accounts for financial
statement preparation:
1.
Franklin Products acquired a 8.4% bank loan for
$65,550 on August 1, 2017, due in 1 year.
2.
Prepaid insurance is the cost of a 18-month
insurance policy, effective February 1.
3.
Franklin Products rents warehouse storage for its
seasonal heavy equipment. On November 1, 2017, Franklin Products
paid $4,140 for a 6-month lease.
4.
The physical inventory count of Merchandise
Inventory indicated an amount...