From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1. GENERAL JOURNALPage 1 Date​DescriptionPostRef. Debit​CreditAdjusting EntriesDec.31Work in Process Inventory17,333.00Factory Overhead17,333.0031Interest Receivable2,367.00Interest Revenue2,367.0031Office Supplies Expense6,319.00Office Supplies6,319.0031Factory Overhead15,841.00Factory Supplies15,841.0031Bad Debt Expense4,320.00Allowance for Bad Debts4,320.0031Factory Overhead1,927.00Prepaid Insurance1,927.0031Factory Overhead6,210.00Accumulated Depreciation—FactoryBuilding​6,210.0031Factory Overhead14,253.00Accumulated Depreciation—FactoryEquipment​14,253.00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1.

GENERAL JOURNAL
Page 1

Date

Description
Post
Ref.

Debit

Credit


Adjusting Entries



Dec.
31
Work in Process Inventory

17,333.00



Factory Overhead


17,333.00







31
Interest Receivable

2,367.00



Interest Revenue


2,367.00







31
Office Supplies Expense

6,319.00



Office Supplies


6,319.00







31
Factory Overhead

15,841.00



Factory Supplies


15,841.00







31
Bad Debt Expense

4,320.00



Allowance for Bad Debts
4,320.00







31
Factory Overhead

1,927.00



Prepaid Insurance


1,927.00







31
Factory Overhead

6,210.00



Accumulated Depreciation—Factory
Building



6,210.00







31
Factory Overhead

14,253.00



Accumulated Depreciation—Factory
Equipment



14,253.00

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