Question

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

1. Interest on notes payable of $400 is accrued.
2. Services performed but not recorded total $2,000.
3. Salaries earned by employees of $670 have not been recorded.
Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries and Wages Expense, and Salaries and Wages Payable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Dec. 31 2. Dec. 31 3. Dec. 31 Click if you would like to Show Work for this question:

Answer 1

No Date Account Titles and Explanation Debit Credit

1. Dec. 31 Interest expenses $400

Interest payable $400

(To record interest due on notes)

2. Dec. 31 Account receivable $2,000

Service revenue $2,000

(To record the service revenue earned)

3. Dec. 31 Salaries and wages expenses $670

Salaries and wages payable $670

(To record the alaries and wages expenses)