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Service Revenue, Accounts Receivable, Interest Expense

The bookkeeper for Wooster Company asks you to prepare the following accrued adjusting entries at December 31.

1. Interest on notes payable of $400 is accrued.
2. Services provided but not recorded total $1,250.
3. Salaries earned by employees of $900 have not been recorded.

Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries Expense, and Salaries Payable.

Solution Preview

1. Interest Expense A/c Dr. 400
To Accrued Interest A/c 400

(Being Interest on ...

Solution Summary

This provides Service Revenue, Accounts Receivable, Interest Expense and Interest Payable

$2.19