The bookkeeper for Pharoah Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) Interest on notes payable of $380 is accrued. (b) Services performed but unbilled totals $1,820. (c) Salaries of $750 earned by employees have not been recorded.

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Foxy Lady

21 October, 07:36

The bookkeeper for Pharoah Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) Interest on notes payable of $380 is accrued. (b) Services performed but unbilled totals $1,820. (c) Salaries of $750 earned by employees have not been recorded.

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Esteban Davies · Answer 1

The journal entries are as follows

On December 31

1. Interest expense A/c Dr $380

To Interest payable A/c $380

(Being the interest expense is recorded)

2. Account receivable A/c Dr $1,820

To Service revenue A/c $1,820

(Being the unbilled amount is recorded)

3. Salaries expense A/c Dr $750

To Salaries payable A/c $750

(Being the salaries expense is recorded)