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Prepare journal entry to record each of december transaction

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The December 31 inventory count of computer supplies shows $640 still available.

  1. Three months have expired since the 12-month insurance premium was paid in advance.
  2. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day.
  3. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
  4. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
  5. Three of the four months' prepaid rent have expired.

Required:

Problem 1. Prepare journal entries to record each of the December transactions and events for Business Solutions.

Reference no: EM132807877

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