ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 254

Account Titles and Explanation

Debit Credit

Make all the journal entries necessary to record the transactions
above using appropriate dates. (If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts.
Credit account titles are automatically indented when amount is
entered. Do not indent manually.)

Date Account Titles and Explanation

Debit Credit

7) Edwardson Corporation’s year-end is December 31.
Assuming that no adjusting entries relative to the transactions
above have been recorded, prepare any adjusting journal entries
concerning interest that are necessary to present fair financial
statements at December 31. Assume straight-line amortization
of discounts. (If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit account titles
are automatically indented when amount is entered. Do not
indent manually. Record journal entries in the order presented in
the problem.)