Business, 11.02.2020 18:28 golderhadashaowtatz

Prepare adjusting journal entries, as needed, for the following items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. The Supplies account shows a balance of $560, but a count of supplies reveals only $280 on hand at year-end. b. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year-end shows a balance of $540 in Prepaid Insurance. A review of insurance policies reveals that $180 of insurance is unexpired. c. Employees work Monday through Friday, and salaries of $2,800 per week are paid each Friday. The company's year-end falls on Tuesday. d. At year-end, the company received a utility bill for December's electricity usage of $250 that will be paid in early January.

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