Four Transactions Are Given Below That Were Completed During 2014

question 2

Essay

Four transactions are given below that were completed during 2014 by Russell Company. The books are adjusted only at year-end.
A. On December 31, 2014, Russell Company owed employees $3,750 for wages that were earned by them during December and were not recorded.
B. During 2014, Russell Company purchased office supplies that cost $1,000, which were placed in the supplies room for use as needed. The purchase was recorded as follows:
At January 1, 2014, the amount of unused office supplies was $300. At December 31, 2014, a physical count showed unused office supplies in the supply room amounting to $100.
C. On December 1, 2014, Russell Company rented some office space to another party. Russell Company collected $900 rent for the period December 1, 2014, to March 1, 2014. The December 1 transaction was recorded as follows:
D. On July 1, 2014, Russell Company borrowed $12,000 cash on a one-year, 8% interest-bearing, note payable. The interest is payable on the due date of the note, June 30, 2015. The borrowing was recorded as follows on July 1, 2014:

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