Reference no: EM133012031
Question - Jeans Jackets High Resolution Stock Photography and Images - Alamy Chaquetas y Jeans Co.'s accounting records include the following select unadjusted balances as of October 31, 2020:
Cash: $8,630
Accounts Payable: $6,250
Wages Payable: $4,800
Accounts Receivable: $12,000
Inventories: $10,700
Accumulated depreciation: $5,000
The data that have been developed for the adjustment entries as of November 30, 2020 are:
Cash Sales for $ 5,900 with inventory withdrawals costing $1,700
Collections (Accounts Receivable payment receipt): $8,600
Ending Inventory: $4,180
Wages owed to employees, $1,600
Monthly Depreciation Expense: $240
Required -
1. Open a T account for each account and record the adjustments directly to the T accounts, identifying each adjustment by means of a letter.
2. ?Show the adjusted balance for each account. Journal entries are not required.