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The following are year end (Dec 31, 2018) results adjustments for XYZ consulting
Cash 10,000
Accounts Receivable 28,000
Supplies 400
Prepaid Insurance 2,000
Equipment 25,000
Accumulated Depreciation - Equipment 8,000
Accounts Payable 10,200
Wages Payable
Capital 42,400
Withdrawal 2,400
Service Revenue 38,000
Wages Expense 14,000
Utilities Expense 5,800
Insurance Expense
Depreciation Expense
Supplies Expense
Rent Expense 11,000
Adjustments
A) Supplies on hand at December 31, $50
B) The equipment costing 25,000 had an estimated useful life of 5 years with a residual value of 5,000
C) Insurance expired 600
D) Wages earned by employees not yet paid amounted to 1,300
Problem 1: Journalize and Post the Adjusted Entries
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