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Find the appropriate adjusting journal entry to be made

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Reference no: EM132779133

Problem 1: A law firm received $2280 cash for legal services to be rendered in the future. The full amount was credited to the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry is made, this would cause:

Problem 2: Cheyenne Corp. purchased office supplies costing $6160 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2200 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be

Reference no: EM132779133

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