Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.
|Deferred sales revenue||2,100|
|Cost of goods sold||71,000|
Information necessary to prepare the year-end adjusting entries appears below.
|Accumulated Dep-Office equipment||10100|
|3||Interest expense (50200*12%*3/12)||1506|
|4||Interest receivable (20200*8%*10/12)||1347|
|5||Insurance expense (6200/12*9)||4650|
|6||Supplies expense (1600-500)||1100|
|7||No Journal entry|
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