Reference no: EM132632476

Question - Prepare journal entries for the following

1. Bad debt expense is estimated to be $1,471.

2. Equipment is depreciated based on a 7-year life (no salvage value).

3. Insurance expired during the year $2,557.

4. Interest accrued on notes payable $3,492.

5. Sales salaries and wages earned but not paid $2,232.

6. Advertising paid in advance $722.

7. Office supplies on hand $1,510, charged to Supplies Expense when purchased.