Breif Exercise 3-11
Duncan Company records all prepayments in income statement
accounts.At April 30, the trial balance shows Supplies Expense $2,800, Service
Revenue $9,200, and zero balances in related balance sheet accounts. Prepare
the adjusting entries at April 30 assuming (a) $1,000 of supplies on hand and
(b) $3,000 of service revenue should be reported as unearned.
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