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

(a) Interest on notes payable of $300 is accrued.

(b) Service revenue earned but unbilled totals $1,700.

(c) Salaries of $780 earned by employees have not been recorded.

Use these account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91901148
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