Yao Company began operations on June 1, 20x1 and prepares monthly financial statements. It has the following partial unadjusted trial balance at June 30, 20x1: Debit Credit Prepaid insurance 6,000 Unearned service 2,900 revenue The balance in the prepaid insurance account relates to a 1-year insurance policy, effective June 1, 20x1. Which of the following would be the correct adjusting journal entry at June 30, 20x1 with respect to this insurance policy? Prepaid insurance Insurance expense 500 500 Prepaid insurance Cash 6,000 6,000 Insurance expense 500 Prepaid insurance 500 d) Insurance expense 500 Cash 500

The following account balances are those of Music Land Supply Company as of December 31, the end of the fiscal year, before adjustments. Accounts Receivable   $ 43,600   Allowance for Doubtful Accounts   180 cr. Credit Sales   470,000   Required: Prepare the necessary adjusting entry to record Bad Debt Expense in each of the following independent cases. a. Uncollectible accounts are estimated at 1.5% of credit sales. If an amount box does not require an entry, leave it blank. Page: 1   DATE DESCRIPTION POST.REF. DEBIT CREDIT   1 Dec. 31 Bad Debt Expense    fill in the blank 56a9ce08f033003_2 fill in the blank 56a9ce08f033003_3 1 2   Allowance for Doubtful Accounts    fill in the blank 56a9ce08f033003_5 fill in the blank 56a9ce08f033003_6 2 b. An aging of the accounts receivable indicates that $6,850 will not be collected. If an amount box does not require an entry, leave it blank. Page: 1   DATE DESCRIPTION POST.REF. DEBIT CREDIT…

Before any adjustments, Snow Company had an end of the year accounts receivable balance of $225,000 and the allowance for uncollectible accounts had a $800 credit balance. An analysis of accounts receivable determines that the allowance for uncollectible accounts should be 4% of accounts receivable. The adjusting entry would include a credit to Allowance for Uncollectible Accounts of: O A. $8,000. O B. $9,800. OC. $9,000. $8,200. OD.

ces Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $20,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st, Interest Recognized December 31 20,000 4% 18/360 Principal Rate (%) Time Total interest Total Through Maturity $ 20,000 $ 4% 45/360 Check my work