Help Sav rious types of pasta to grocery chains as private label brands. The com

Question

Help Sav rious types of pasta to grocery chains as private label brands. The companys fiscal year- Pastina Company sells var end is December 31. The unadjusted trial balance as of December 31, 2018, appears below 41,750 3,000 1,600 72,000 24,900 Accounts receivable Supplies Note receivable Prepaid rent Prepaid insurance office equipment 2,200 84,000 fice equipment 31,500 32,000 payable Salaries and wages payable 60,900 Deferred revenue 60,000 20,500 208,000 d earnings Cost of goods sold Salaries and wages expense Rent expense 93,600 18,300 12,100 1,050 Supplies expense Insurance expense 3,200 ? Prev 2003 or aScore answer >

Explanation / Answer

Transaction Accounts Dr Cr 1 Depreciation expense 10500 To Accumulated Depreciation- Office equipment 10500 2 Salaries and wages expense 1350 To Salaries and wages payable 1350 3 Interest expense[60900*12% /12months * 3 months] 1827 To Interest payable 1827 4 Interest receivable [24900 * 10/12 months * 8%] 1660 To interest revenue 1660 5 Prepaid insurance [5200 * (24-9) /24 months ] 3250 To insurance expense 3250 Note:- from 1 April 18 to 31 Dec. ,2018 = 9 months 6 Supplies expense [1600 - 830] 770 To Supplies 770 7 Sales revenue 1620 To Deferred revenue 1620 8 Rent expense 1100 To Prepaid rent 1100

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