How to prepare the reversing entries from the adjusting entries as follows and tranferrer to the ledger ?
Advertising expenses prepaid |
800 |
Advertising expenses |
800 |
|
Salesmen's commissions |
700 |
Salesmen's commissions accrued |
700 |
|
Insurance expenses |
600 |
Insurance expenses prepaid |
600 |
|
Office machinery repairs |
300 |
Office machinery repairs owing |
300 |
|
Selling Expenses |
300 |
Selling expenses accrued |
300 |
|
Miscellaneous Expenses in advance |
100 |
Miscellaneous expenses |
100 |
|
Mortgage Interest Expenses |
1,500 |
Mortgage Interest owing |
1,500 |
|
Interest on bank loan |
400 |
Interest on bank loan owing |
400 |
|
Bank Interest Revenue accrued |
200 |
Bank Interest Revenue |
200 |