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Adjusting Journal Entries

DB CR a. Debit Cleaning and Office Supplies Expense (income statement) 114 Credit Account Payable (current liability) 114 – to record amounts owing at year-end for cleaning and office supplies […]

Ocean atlantic co.

Comprehensive Problem 2Ocean Atlantic Co. is a merchandising business. the account balances for Ocean Atlantic co. as of July 1, 2012 (unless otherwise indicated), are as follows:110 Cash 63,600112 Accounts […]