At the End of the Annual Accounting Period,the Adjusting Entries

question 21

Essay

At the end of the annual accounting period,the adjusting entries for the following three items have not been made.You are to provide the 20B adjusting entry for each item.
A.Unpaid wages for the last two days of December,20B amounting to $3,200 have not been recorded (disregard payroll taxes).
B.On December 1,20B rent revenue of $600 was collected for December and January.(Rent revenue was credited for a total of $600).
C.A $4,000,six-month,10% interest-bearing note payable was singed on October 1,20B.

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Definitions:

Petroleum Industry

An industry that deals with the exploration, extraction, refining, transporting, and marketing of petroleum products.

Intensive Crop Cultivation

A farming practice that aims to maximize agricultural output per acre through the use of modern agricultural techniques and inputs like fertilizers, pesticides, and irrigation.

Plows

Agricultural tools used for tilling the soil, preparing it for sowing seeds by turning over the upper layer.

Fertilizers

Substances added to soil to enhance its fertility, typically containing essential nutrients such as nitrogen, phosphorus, and potassium, used to promote plant growth.