Consider the Following Situations That Require Adjustments for Anaheim Company

question 70

Essay

Consider the following situations that require adjustments for Anaheim Company at December 31, Year 1:
1)Owed salary expenses totaling $10,500 that will be paid during January of Year 22)The supplies account has a balance of $2,400 and a physical count of the supplies revealed that $660 of unused supplies were available for future use3)On October 1, Year 1, the company had collected an advance payment from a customer for $96,000 for services to be rendered equally over the six-month period beginning on that date.
Required:Record the adjusting entry required for each of the situations described above.

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Definitions:

Medical Reasons

Justifications or explanations for actions, decisions, or treatments based on health or physiological needs.

Cannabis

A psychoactive drug derived from the Cannabis plant, used for medical or recreational purposes.

District of Columbia

The capital of the United States, a federal district that is not part of any state.

Synesthesia

A condition in which one sense is simultaneously perceived by one or more additional senses, such as seeing colors when hearing music.