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Prepare the adjusting entries for the month of march

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Reference no: EM13513294

The ledger of Hammond, Inc. on March 31, 2010, includes the following selected accounts before adjusting entries.

Debit

Credit

Prepaid Insurance

3,600

Office Supplies

Office Equipment

25,000

Accumulated Depreciation-Office Equipment

5,000

Unearned Revenue

9,200

An analysis of the accounts shows the following.

1. Insurance expires at the rate of $100 per month.

2. Supplies on hand total $800.

3. The office equipment depreciates $200 a month.

4. One-half of the unearned revenue was earned in March.

Prepare the adjusting entries for the month of March.

 

Reference no: EM13513294

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