In the Journal Provided,prepare Adjusting Entries for the Following Items

question 97

Essay

In the journal provided,prepare adjusting entries for the following items.Omit explanations.
a. Unrecorded interest on savings bonds is $680.
b. Property taxes incurred but not paid or recorded amount to $540.
c. Legal fees of $5,000 were collected in advance. By year end, 80 percent were still unearned.
d. Prepaid Insurance had a $1,600 debit balance prior to adjustment. By year end, 25 percent was still unexpired.
e. Salaries incurred by year end but not yet paid or recorded amounted to $1,375.
f. Services totaling $900 have been performed but not yet recorded or billed.

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Definitions:

Enactment

The process of making a proposed bill into law through official legislative procedures.

Final Outcome

The ultimate result or end-product of a process, action, or series of events.

Implementing Organizations

Groups or entities responsible for the execution and enforcement of policies, strategies, or programs.

Collaborative Integration

The process of combining efforts, knowledge, and resources from different organizations or sectors to achieve a common goal.