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Prepare the adjusting entries for the month of July

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Reference no: EM132914922

Question - Travel expense incurred $250, but not paid on July 31, 2013.

Following transactions occurred in the month of July, 2013.

1. Symphony Company paid insurance fee $1200 & the insurance policy is for 2 years starting from July 1, 2013. Insurance benefit has been used up for the month of July.

2. The office furniture has a 5-year life with no salvage value. It is being depreciated at $170 per month for 60 months.

3. Invoices representing $1,200 of services performed during the month have not been recorded as of July 31.

4. On July 1, 2013, Symphony Company collected $30,000 for services to be performed from July 1, 2013 through August 30, 2013.

Requirement - Prepare the adjusting entries for the month of July, 2013?

Reference no: EM132914922

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