Transaction e. Depreciation of office building during the year is $3,500.The correct adjusting entry is:
A. Dr. Depreciation expense 3,500 Cr. Accumulated depreciation 3,500
B. Dr. Depreciation expense 3,500 Cr. Office building 3,500
C. Dr. Accumulated depreciation 3,500 Cr. Depreciation expense 3,500
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Transaction d. Accrued fees earned but not recorded on July 31, 2020 is $1,000.The correct adjusting entry is:
A. Dr. Cash 1,000 Cr. Fees earned 1,000
B. Dr. Accounts receivable 1,000 Cr. Unearned revenue 1,000
C. Dr. Accounts receivable 1,000 Cr. Fees earned 1,000
Transaction d. Accrued fees earned but not recorded on July 31, 2020 are $11,700.The correct adjusting entry is:
A. Dr. Cash 11,700 Cr. Fees earned 11,700
B. Dr. Accounts receivable 11,700 Cr. Fees earned 11,700
C. Dr. Accounts receivable 11,700 Cr. Unearned revenue 11,700
Transaction c. Wages accrued but not paid on July 31, 2020 are $440.The correct adjusting entry is:
A. Dr. Wages expense 440 Cr. Accounts payable 440
B. Dr. Wages payable 440 Cr. Wages expense 440
C. Dr. Wages expense 440 Cr. Wages payable 440
Depreciation of equipment during the year is $4,950.The correct adjusting entry is:
A. Dr. Depreciation expense 4,950 Cr. Accumulated depreciation 4,950
B. Dr. Accumulated depreciation 4,950 Cr. Depreciation expense 4,950
C. Dr. Depreciation expense 4,950 Cr. Equipment 4,950
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