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Make journal entries for these adjustments

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Question - Desoto Company must make three adjusting entries on December 31, 2019.

1. Supplies used, $9,800 (supplies totaling $15,600 were purchased on December 1, 2019, and debited to the Supplies account).

2. Expired insurance, $7,000; on December 1, 2019, the firm paid $42,000 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount.

3. Depreciation expense for equipment, $4,600.

Required - Make journal entries for these adjustments and post the entries to the general ledger accounts. Columns should include General Journal, Debit, and Credit. I need entries for supplies, insurance, and depreciation all done separately.

Once all the entries completed need to show this on the Ledger. The ledger should show a debit and a credit with a balance column.

Reference no: EM132447788

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