Respuesta :
Answer:
1) Debit Depreciation expenses for $1,200; and Credit Accumulated depreciation for $1,200.
2) Debit Unearned Rent Revenue for $3,400; and Credit Rent Revenue for $3,400.
3) Debit interest expenses for $500; Credit Interest payable for $500.
4) Debit Supplies expenses a/c for $1,900; and Credit Cost of goods sold for $1,900.
5) Debit Insurance expense for $600; Credit Insurance prepaid for $600.
Step-by-step explanation:
Note: This question is not complete. The complete question is therefore provided for answering the question. See the attached pdf file for the complete question.
The explanation to the answer is now provided as follows:
The adjusting entries at March 31 will look as follows:
Perez Rental Agency
Date Accounts Name Dr($) Cr($)
Mar 31 Depreciation exp. ($400 * 3monts) 1,200
Accumulated depreciation 1,200
(To record depreciation expenses.)
Mar 31 Unearned Rent Revenue 3,400
Rent Revenue (1/3 * $10,200) 3,400
(To record earned unearned rent revenue.)
Mar 31 Interest expenses a/c 500
Interest payable 500
(To record accrued interest on note payables.)
Mar 31 Supplies expenses a/c ($2,800 - 900) 1,900
Supplies on hand 1,900
(To record supplies expenses.)
Mar 31 Insurance exp. ($200 * 3 months) 600
Prepaid insurance 600
(To record expired prepaid insurance.)
