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28 Sep 2019
X Company prepares monthly financial statements. In March, itsaccountant recorded entries as follows:
-made an adjusting entry for $1,614 of unpaid interest on a bankloan
-recorded $4,179 for wages paid
-made an adjusting entry for $597 of wages that were earned byemployees but not paid
-made an adjusting entry for $1,410 of insurance that hadexpired
-recorded $1,590 that was received from a customer formerchandise that X Company special ordered and agreed to deliver inApril.
As a result of these entries, total equities decreased by
X Company prepares monthly financial statements. In March, itsaccountant recorded entries as follows:
-made an adjusting entry for $1,614 of unpaid interest on a bankloan
-recorded $4,179 for wages paid
-made an adjusting entry for $597 of wages that were earned byemployees but not paid
-made an adjusting entry for $1,410 of insurance that hadexpired
-recorded $1,590 that was received from a customer formerchandise that X Company special ordered and agreed to deliver inApril.
As a result of these entries, total equities decreased by
Keith LeannonLv2
28 Sep 2019
