Reference no: EM132935606

Question - What would the recorded adjusting entries look like, for the following statements:

The supplies account has a balance of $500 on the year-end trial balance. A physical count of the supplies shows that $350 remain on hand.

Annual depreciation expense for the equipment has been calculated to be $450.

Of the $330 of Prepaid Insurance, $30 has expired at year end.

Interest for three months is owed on the $70,000, 6% note payable.

Of the $1,000 of service revenue received in advance, $250 is still unearned.