Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1.
Supplies for office use were purchased during the year for $840, of which $270 remained on hand (unused) at year-end.

2.
Interest of $420 on a note receivable was earned at year-end, although collection of the interest is not due until the following year.

3.
At year-end, salaries and wages payable of $5,300 had not been recorded or paid.

4.
At year-end, one-half of a $3,700 advertising project had been completed for a client, but nothing had been billed or collected.

5.
Redeemed a gift card for $770 of services.

supplies expense 570 debit

             supplies           570 credit

interest receivables 420 debit

      interest revenue       420 credit

salaries expense 5,300 debit

     salaries payable     5,300 credit

accounts receivables 3,700 debit

     sales revenues             3,700 credit

accounts payable*      770 debit

   gift card receivables    770 credit

Explanation:

the difference between the purchased amount and ending will be the consumed supplies hence, expense:

purchases  840

ending      (270)  

consumed  570

the interest will be revenue as where accrued during this perod regardless of collection date

the wages and services revenues are accrued already thus, we recognize them

Gift card:

*redeem the gift card will reduce the amount due for the services.

answer; encouraging the development of innovations by firms attempting to break a monopoly; (creative destruction)

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are: