Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting

Question

Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question. Round answers to 0 decimal places, e.g. 5,275.)

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Minh Khuê 5 months 2021-08-24T21:58:11+00:00 1 Answers 0 views 0

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    2021-08-24T21:59:47+00:00

    Answer:

    Insurance Expense (Dr.) $200

    Prepaid Insurance (Cr.) $200

    Supplies expense (Dr.) $1,250

    Cash (Cr.) $1,250

    Depreciation Expense (Dr.) $424

    Accumulated depreciation Building (Cr.) $304

    Accumulated Depreciation Equipment (Cr.) $120

    Interest Expense (Dr.) $200

    Interest Payable (Cr.) $200

    Unearned Rent Revenue (Dr.) $2,200

    Rent Revenue (Cr.) $2,200

    Salaries Expense (Dr.) $700

    Salaries Payable (Cr.) $700

    Step-by-step explanation:

    Three column ledger has particular, debit and credit columns in which all the entries which are recorded in journal entries are posted to have a clear view of the expense and income.

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