could you please answer the question before the due date

could you please answer the question before the due date

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E4-7 Recording Seven Typical Adjusting Entries LO2
Cardon’s Boat Yard, Inc., repairs, stores, and cleans boats for customers. It is
completing the accounting process for the year just ended, November 30, 2012.
The
transactions during 2012 have been journalized and posted. The following data with
respect to adjusting entries are available:
a.
Cardon’s winterized (cleaned and covered) three boats for customers at the end of November,
but did not record the service for $4,500.
b.
On October 1, 2012, Cardon’s paid $1,560 to the local newspaper for an advertisement to run
every Thursday for 12 weeks. All ads have been run except for three Thursdays in December to
complete the 12-week contract.
c.
Cardon’s borrowed $294,000 at a 10 percent annual interest rate on April 1, 2012, to expand
its boat storage facility. The loan requires Cardon’s to pay the interest quarterly until the note is
repaid in three years. Cardon’s paid quarterly interest on July 1 and October 1.
d.
The Johnson family paid Cardon’s $4,440 on November 1, 2012, to store its sailboat for the
winter until May 1, 2013. Cardon’s credited the full amount to Unearned Storage Revenue on
November 1.
e.
Cardon’s used boat-lifting equipment that cost $300,000; $30,000 was the estimated
depreciation for 2012.
f.
Boat repair supplies on hand at December 1, 2011, totaled $17,300. Repair supplies purchased
and debited to Supplies during the year amounted to $47,900. The year-end count showed
$12,300 of the supplies on hand.
g.
Wages earned by employees during November 2012, unpaid and unrecorded at November 30,
2012, amounted to $4,400. The next payroll date will be December 5, 2012.

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