Thursday, 26 July 2012


Breif Exercise 3-7

The bookkeeper for Oglesby Company asks you to prepare the following accrued adjusting entries at December 31.

1. Interest on notes payable of $400 is accrued.
2. Services provided but not recorded total $1,500.
3. Salaries earned by employees of $900 have not been recorded.

Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries Expense, and Salaries Payable.

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