Adjusting entries are required for expired insurance

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Reference no: EM131220384

The ledger of Lentz Company includes the following unadjusted balances: Prepaid Insurance $4,400, Service Revenue $57,500, and Salaries and Wages Expense $23,700. Adjusting entries are required for (a) expired insurance $1,900; (b) services performed $1,700, but unbilled and uncollected; and (c) accrued salaries payable $900. The ledger of Lentz Company includes the following unadjusted balances: Prepaid Insurance $4,400, Service Revenue $57,500, and Salaries and Wages Expense $23,700. Adjusting entries are required for (a) expired insurance $1,900; (b) services performed $1,700, but unbilled and uncollected; and (c) accrued salaries payable $900.

Reference no: EM131220384

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