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Record the adjusting entries for the month of December. Explanations are not required.
a. Accrued Salaries Expense of $1,700
b. Depreciation in the amount of $200 was recorded on the furniture
c. Prepaid Insurance for the month expired. Remember, a four month insurance policy of $1,400 was paid for on December1.
d. Office Supplies used during the month, $110.
e. Unearned revenue earned during the month $400.
f. Accrued service revenue $900.

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Answer:

Item a

Debit : Salaries Expense  $1,700

Credit : Salaries Payable  $1,700

Item b

Debit : Depreciation expense $200

Credit : Accumulated depreciation $200

Item c

Debit : Insurance expense $350

Credit : Prepaid Insurance $350

Item d

Debit : Supplies expenses $110

Credit : Office Supplies $110

Item e

Debit : Unearned revenue $400

Credit : Revenue Earned $400

Item f

Debit : Accounts Receivable $900

Credit : Service Revenue $900

Explanation:

The adjusting entries for the month of December have been prepared above.

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