Prepare whatever reversing entries are appropriate

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Problem - Reversing Entries - On December 31, 2019, Kellams Company made the following adjusting entries for its annual accounting period:

Depreciation Expense 

2,400


Accumulated Depreciation


2,400

To record depreciation on buildings.



Interest Receivable 

500


Interest Revenue


500

To record interest on note receivable due January 28, 2020.



Rent Expense

400


Prepaid Rent


400

To record expired prepaid rent.



Interest Expense

620


Interest Payable


620

To record interest on note payable due March 16, 2020.

Required - Prepare whatever reversing entries are appropriate.

Reference no: EM132879687

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