Essay
Three transactions described below were completed during 2016 by Story Company.
A.On June 1, 2016, Story Company paid $12,600 for one year's rent beginning on that date.The rent payment was recorded as follows:
B.On February 1, 2016, Story Company purchased office supplies during the year that cost $700 and placed the supplies in a storeroom for use as needed.The purchase was recorded as follows:
At December 31, 2016, a count showed unused office supplies of $200 in the storeroom.There was no beginning inventory of supplies on hand.
C.On December 31, 2016, Story Company owed employees $2,000 for wages earned during December.These wages had not been paid or recorded.Required:
Prepare the adjusting entries as of December 31, 2016, assuming no adjusting entries have been made during the year.
Correct Answer:

Verified
Correct Answer:
Verified
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