Record the six adjusting entries required on December

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Question - Zolar Moving Co. has been in operation for over 30 years providing moving services for local households and businesses, and is the oldest independent moving company in Ithaca, NY. It is now December 31, 2020, the end of the annual accounting period. Assume that the company has not done well financially during the year, although revenue has been fairly good. The two stockholders manage the company, but they have not given much attention to recordkeeping. In view of a serious cash shortage, they have applied to your bank for a $30,000 loan. You requested a complete set of financial statements. The following 2020 annual financial statements were prepared by a clerk and then were given to your bank.

Record the six adjusting entries required on December 31, 2020, based on the preceding additional information. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM132768473

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