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Sagot :
Answer:
Blossom Company
Journal Entries
a. Debit Salaries and Wages Expense $450
Credit Salaries and Wages Payable $450
To record accrued salaries and wages.
b. Debit Interest Receivable $690
Credit Interest Revenue $690
To record interest on bonds for the year.
c. Debit Insurance Expense $420
Credit Prepaid Insurance $420
To record insurance expense for the year.
d. Debit Service Revenue $300
Credit Unearned Revenue $300
To record unearned revenue.
e. Debit Supplies Expense $950
Credit Supplies $950
To record the supplies expense for the year.
Explanation:
1. Data and Analysis:
a. Salaries and Wages Expense $450 Salaries and Wages Payable $450
b. Interest Receivable $690 Interest Revenue $690
c. Insurance Expense $420 Prepaid Insurance $420
d. Service Revenue $300 Unearned Revenue $300
e. Supplies Expense $950 Supplies $950
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