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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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2021-08-24T21:58:11+00:00
2021-08-24T21:58:11+00:00 1 Answers
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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.