Prepare Adjusting Entries Dated December 31,2013,based on the Following Data

question 7

Essay

Prepare adjusting entries dated December 31,2013,based on the following data.
a.A two-year insurance policy costing $3,000 was purchased on October 31,2013.
b.Salaries owed to employees on December 31,2013,amount to $2,300.
c.The balance in Supplies before adjustment is $1,400.A physical count reveals $450 of supplies on hand on December 31,2013.
d.Depreciation on office equipment for the year is $1,869.
e.Unearned Service Revenue has a balance of $4,200 before adjustment.Records show that $2,725 of that amount has been earned by December 31,2013.

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Definitions:

Old World

Refers to the parts of the world known to Europeans before the discovery of the Americas, including Africa, Europe, and Asia.

Mesolithic

The Middle Stone Age, a period in human history between the Paleolithic and Neolithic, characterized by the development of small stone tools and the beginning of a sedentary lifestyle.

Natufians

A prehistoric people who lived in the Levant, around 12,000 to 9,500 BC, known for the early adoption of sedentary lifestyles and agriculture.

Domestication

The process of adapting animals and plants through selective breeding for use by humans, often to fulfill specific roles or to produce specific products.