Journalizing reversing entries Lucas Architects recorded the following adjusting entries as of December 31: Service Revenue accrued, $2,600. Unearned Revenue that has been earned, $1,300. Office Supplies on hand, $530. The balance of the Office Supplies account was $880. Salaries owed to employees, $600. One month of Prepaid Rent has expired, $3,100. Depreciation on equipment, $1,075. Journalize any necessary reversing entries for Lucas Architects.

Journalizing reversing entries Lucas Architects recorded the following adjusting entries as of December 31: Service Revenue accrued, $2,600. Unearned Revenue that has been earned, $1,300. Office Supplies on hand, $530. The balance of the Office Supplies account was $880. Salaries owed to employees, $600. One month of Prepaid Rent has expired, $3,100. Depreciation on equipment, $1,075. Journalize any necessary reversing entries for Lucas Architects.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EB: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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