Problem 3-1B

Name: jeerapa khanphet

Section:

Score: 100%

Key Code: [Key code here]

Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.

1. Account Debit Credit

May 31 Accounts Receivable 19,750
Fees Earned 19,750

31 Supplies Expense 8,150

Supplies 8,150

31 Wages Expense 2,700

Wages Payable 2,700

31 Unearned Rent 3,000

Rent Revenue 3,000

31 Depreciation Expense 3,200

Accumulated Depreciation 3,200

2.
Adjusting entries are a planned part of the accounting
process to update the accounts.

Correcting entries are not planned but arise only when

necessary to correct errors.