MGMT 2101 Lecture Notes - Lecture 3: Bank Reconciliation, Bank Charge, Trial Balance
26 Dec 2015
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Prepaid insurance we didn"t have to calculate the amount. B we have to accrue for wage expense for the 3 days up to year end. 2400 (days for thurs & fri @$ 1200/day) They loaned money to a customer on oct 1 for at an interest rate of 10% Year end is dec 31, no payments of interest or principal are made until next year note interest rate is 10% for the whole year. . 00 they earned this for the 3 month period same entry as above. 6600 when assets are used up they create expenses. Unearned service revenue the adjustment to record 1/3 of the fee: 4000 after adjustments are made there is 8000 left in the unearned account, which represents 2/3 of the total since 1/3 has been earned the payment of salaries to employees when earned would:
