Name: Haries Vi T.

Micolob BSBA-HRM 1st year College (OPTED OFFLINE)

ADJUSTING ENTRIES REVERSING ENTRIES
DEBI CREDIT DEBIT CREDIT
T

Salaries Expense 4,500 No Reversing Entry

Salaries Payable 4,500
To notice the unpaid salaries

Unearned Service Revenue 6,000 No Reversing Entry

Service Revenue 6,000
To notice the service that is already earned

Prepaid Insurance 3,400 Insurance Expense 1,400

Insurance Expense 3,400 Prepaid Insurance 1,400
To notice the expired portion To reverse the adjusting entry

Unearned Interest Income 4,600 Interest Income 4,600

Interest Income 4,600 Unearned Interest Income 4,600
To record the interest income

Supplies Expense 2,600 No Reversing Entry

Supplies Inventory 2,600
To record the used supplies

Accrued Interest Income 750 Interest Income 750

Interest Income 750 Accrued Interest Income 750
To Reverse Adjusting Entry

Prepaid Insurance 500 Insurance Expense 500

Insurance Expense 500 Prepaid Insurance 500
To Reverse Adjusting Entry

No Reversing Entry
Rent Expense 1,300 1,300
Accrued Rent Expense 1,300
No Reversing Entry

Rent Income 1,800

Unearned Rent Income 1,800 No Reversing Entry
650

Rent Expense 650

Prepaid Rent 650

Salaries and Wages 1,000 No Reversing Entry

Accrued Salaries and Wages 1,000