Prepare the adjusted journal entries based on transactions

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Problem

Additional information available at month end, October 31: A count of the office supplies showed a balance on October 31 of $70. The merchandise inventory was counted and there was a balance on hand at October 31 of $14,320. The October utility bill arrived from EPCOR Utility Company; the $500 balance owing must be paid by November 15, 2024. Prepare the adjusted journal entries based on the transactions that occurred from October 1 to October 31. Get the instant assignment help. Also determine whether in the balance sheet of Smith's Toys Inc. the assets, Liabilities and equity, increased or decreased?

Reference no: EM133972718

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