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Category > Accounting Posted 12 Aug 2017 My Price 8.00

Jamesway Corporation

 

The  had the following situations on December 2013.

1.

On December 20, 2013, Jamesway received a $6,000 payment from a customer for services to be rendered early in 2014. Service revenue was credited.
2.

On December 1, 2013, the company paid a local radio station $6,000 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited.
3. Employee salaries for the month of December totaling $36,000 will be paid on January 7, 2014.
4.

On August 31, 2013, Jamesway borrowed $75,000 from a local bank. A note was signed with principal and 6% interest to be paid on August 31, 2014.

 

Prepare the necessary adjusting entries at its year-end of December 31, 2013. No adjusting entries were made during the year. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 12:08 AM My Price 8.00

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