Question

At December 31 of the current year, Blossom Corporation had a number of items that were not reflected in its accounting records. Maintenance and repair costs of $1,000 were incurred but not paid. Utilities costing $470 were used but not paid, and use of a warehouse space worth $2,170 was provided to a tenant who had not been billed as of the end of the month.

Record the required adjusting entries related to these events. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	(To record maintenance and repairs costs)
Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	(To record utilities)
Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	(To record warehouse rent)

Answer 1

Solution:

Journal Entries - Blossom Corporation
Date	Particulars	Debit	Credit
31-Dec	Rapair and maintenance expense Dr	$1,000.00
	To Expenses Payable		$1,000.00
	(To record repair and maintenance expense)
31-Dec	Utilities expense Dr	$470.00
	To Expenses Payable		$470.00
	(To record utilities)
31-Dec	Rent receivables Dr	$2,170.00
	To Rent revenue		$2,170.00
	(To record rent revenue)