ORION Problem 3-3A Alena Co. was organized on July 1, 2017.Quarterly financial g

Question

ORION Problem 3-3A Alena Co. was organized on July 1, 2017.Quarterly financial gnment statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below Trial Balance September 30, 2017 Cr, Cr. $ 8,600 8,600 11,600 10,300 Supplies Prepaid Rent Equipment 2,150 18,500 1,200 18,500 ve ed Depreciation-Equipment s 700 10,000 2,550 10,000 Accounts Payable Salaries and Wages Payable Interest Payable Owner's Capital Owner's Drawings 1,100 21,500 1,650 1,650 1,420 2.270

Explanation / Answer

Account titles and Explanation Debit Credit

Accounts Receivable 1,300

Service Revenue 1,300

(to record service revenue earned)

Rent Expense 950

Prepaid Rent 950

(to record rent expense)

Supplies Expense 800

Supplies 800

(to record supplies used)

Depreciation Expense 700

Accumulated Depreciation 700

(to record monthly depreciation)

Interest Expense 100

Interest Payable 100

(to record interest on notes payable)

Unearned Rent Revenue 850

Rent Revenue 850

(to record unearned rent revenue earned)

Salaries and Wages Expense 750

Salaries and Wages Payable 750

(to record accrued salaries)

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