Purchases of supplies were $2,700 in December with $2,600 of supplies remaining at the end of the month. Salaries of $9,200 payable from November were paid and additional salaries of $14,200 were owed for December work. Golden Eagle received $1,800 from a customer in December.
The following information is known for the month of December1. Pu.pdf
1. The following information is known for the month of December:
1. Purchases of supplies for cash during December were $2,700. Supplies on hand at the end of
December equal $2,600.
2. No insurance payments are made in December. Insurance expired in December is $1,100.
3. November salaries payable of $9,200 were paid to employees in December. Additional
salaries for December owed at the end of the year are $14,200.
4. On December 1, Golden Eagle received $1,800 from a customer.
For each item, (a) record any transaction during the month of December, and (b) prepare the
related December 31 year-end adjusting entry. (If no entry is required for a particular
transaction/event, select "No Journal Entry Required" in the first account field.)