Assume the following adjustment data. 1. Supplies on hand at October 31 total $500.
2. Expired insurance for the month is $100.
3. Depreciation for the month is $75.
4. As of October 31, services worth $800 related to the previously recorded unearned revenue had been performed.
5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $280.
6. Interest expense accrued at October 31 is $70.
7. Accrued salaries at October 31 are $1,400.
Prepare the adjusting entries for the items above.

1.Dr Supplies Expense $2,000

Cr Supplies $2,000

2. Dr Insurance Expense $100

Cr Prepaid Insurance $100

3. Dr Depreciation Expense $75

Cr Accumulated Depreciation- Equipment $75

4. Dr Unearned Service Revenue $800

Cr Service Revenue $800

5. Dr Accounts Receivable $280

Cr Service Revenue $280

6. Dr Interest Expense $70

Cr Interest Payable $70

7. Dr Salaries & Wages Expense $1,400

Cr Salaries & Wages Payable $1,400

Explanation:

Preparation of the adjusting entries

1. Dr Supplies Expense $2,000

Cr Supplies $2,000

[$2,500 - $500]

2. Dr Insurance Expense $100

Cr Prepaid Insurance $100

3. Dr Depreciation Expense $75

Cr Accumulated Depreciation- Equipment $75

4. Dr Unearned Service Revenue $800

Cr Service Revenue $800

5. Dr Accounts Receivable $280

Cr Service Revenue $280

6. Dr Interest Expense $70

Cr Interest Payable $70

7. Dr Salaries & Wages Expense $1,400

Cr Salaries & Wages Payable $1,400

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

107x106 is the answer