Which general journal topic would this fall under and which would go under credi

Question

Which general journal topic would this fall under and which would go under credit and debit?

1. Expired insurance, an administrative expense, for the fiscal year is $1,600.

2.Store supplies still available at fiscal year-end amount to $2,250.

Expired insurance, an administrative expense, for the fiscal year is $1,600.

Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year.

3.Store supplies still available at fiscal year-end amount to $2,250.

Expired insurance, an administrative expense, for the fiscal year is $1,600.

Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year.

To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,600 of inventory is still available at fiscal year-end. 4.

Explanation / Answer

Particulars/GL Head Statement Falls Under Debit Credit Insurance Income Statement           1,600 Supplies Balance Sheet           2,250 Depreciation Income Statement           1,600 Stores Supplies Balance Sheet           2,250 Inventory Balance Sheet         10,600

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