Prepare the adjusting entries

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Question - Prepare the adjusting entries based in the following information for the year ended 31 December 2017:

1. Office supplies unused at 31 December 2017 amount to $2320.

2. Unexpired insurance at 31 December 2017 is $540.

3. Office equipment is to be depreciated by $7400.

4. Salaries accrued but unrecorded on 31 December, $260.

5. Electricity accrued and unpaid, $830.

6. On 31 December, telephone charges of $425 have accrued but are unrecorded and unpaid.

7. Interest accrued on bank loan at 31 December was $250.

8. The Unearned Fees account includes $825 received for fees earned during December.

Reference no: EM132619605

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