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Adjusting Entries

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File contains balance sheet and income statement adjustments for problem E4-4 - The adjustments columns of the work sheet for the Munoz Company.

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Solution Summary

This file contains an example of how to post adjusting entries to a balance sheet and an income statement. File is saved in Excel spreadsheet format for ease of viewing.

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For your convenience, I have saved the answers to the posted questions in an Excel format for your review.


(a) Adjusting Entries

Accounts Receivable 600
Service Revenue 600
(Adjustment for accounts receivable)

Insurance Expense 400
Prepaid Insurance 400
(Adjustment for expired ...

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