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  3. prepare the adjusting entries brz should record on december 31...

Question: prepare the adjusting entries brz should record on december 31...

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BRZ Inc Trial Balance December 31, 2017 Debit $10,200 57,900 Credit Cash Accounts receivable Allowance for doubtful accounts Prepaid insurance Furniture and fixtures Accumulated depreciation furniture and fixtures Accounts payable Bond payable (8%, 10 year) Common shares Retained earnings Service revenue Salaries and wages expense Rent expense Supplies expense Advertising expense $2,050 1,332 129,000 12,900 14,100 16,000 56,600 57,300 197,582 123,000 24,600 3,100 7,400 Total S356,532 $356,532 Additional information: (a) On October 1, 2017, BRZ purchased a one-year insurance policy for $1,332 (b) Furniture and fixtures are estimated to have a ten-year useful life with no residual value. They were purchased on January 1, 2016. The straight-line method is used to depreciate this asset group. (c) The bond payable was issued January 1, 2014. Interest is payable on January ist of each year. (d) $6,400 worth of services had been performed for clients but not yet invoiced as of December 31, 2017 (e) On December 31, BRZ paid the local newspaper for advertising for the first three months of 2018. The newspaper charges $320 per month for advertising. This transaction has not yet been recorded. (f) Salaries earned by employees but not yet paid for the last week of December were s6,200.

Prepare the adjusting entries BRZ should record on December 31, 2017

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