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Financial Accounting

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Solve for Adjusting Entry Given Trial Balance Unadjusted Adjusted

FINACT-1CCIKJ

Selected accounts from Able Co's Unadjusted and Adjusted Trial Balances for the most recent period are shown below. Using these amounts, what adjusting journal entry was made?

Trial Balances Unadjusted: Adjusted:
DEBIT CREDIT DEBIT CREDIT
Cash \$2,000 \$2,000
Accounts Receivable \$12,800 \$15,800
Supplies \$1,200 \$600
Prepaid Rent \$4,000 \$3,500
Office Equipment \$180,000 \$180,000
Accumulated Depreciation, equip \$9,000 \$18,000
Accounts Payable \$2,700 \$4,700
Interest Payable \$0 \$200


A
Journal entry: DEBIT CREDIT
Sales Revenues \$3,000
Accounts Receivable \$3,000
B
Journal entry: DEBIT CREDIT
Accounts Receivable \$3,000
Sales Revenue \$3,000
C
Journal entry: DEBIT CREDIT
Accounts Payable \$2,000
Utilities Expense \$2,000
D
Journal entry: DEBIT CREDIT
Supplies \$600
Supplies Expenses \$600