Chapter 21 Accounting for Accruals, Deferrals, and Reversing Entries • 85
Name Date Class
21-R RECYCLING PROBLEM (LO1, 2, 3, 4, 5, 6, 7, 8)
Journalizing entries for accruals and deferrals
Fuenfigger Corporation
Unadjusted Trial Balance
December 31, 20X1
ACCOUNT TITLE DEBIT CREDIT
Notes Receivable 20 0 0 0 00
Interest Receivable
86 • Recycling Problem Working Papers
GENERAL JOURNAL PAGE 14
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
16 16
GENERAL JOURNAL PAGE 15
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
1., 2.
3.
21-R RECYCLING PROBLEM (continued)
TE
Adjusting Entries
20X1
Dec. 31 Interest Receivable 1 0 0 00
Interest Income 1 0 0 00
31 Interest Expense 2 5 0 00
Interest Payable 2 5 0 00
31 Unearned Rent Income 12 0 0 0 00
Rent Income 12 0 0 0 00
Closing Entries
Reversing Entries
20X2
Jan. 1Interest Income 1 0 0 00
Name Date Class
21-R RECYCLING PROBLEM (continued)
CASH RECEIPTS JOURNAL PAGE
DATE ACCOUNT TITLE DOC.
NO. POST.
REF.
RECEIVABLE
CREDIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
SALES
DISCOUNT
DEBIT
1 1
2 2
3 3
4 4
5 5
6 6
5.
4.
CASH PAYMENTS JOURNAL PAGE
12345
DATE ACCOUNT TITLE CK.
GENERAL ACCOUNTS
PAYABLE
DEBIT
PURCHASES
DISCOUNT
CREDIT
DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
20X2
Mar.31 Notes Receivable R205 20 0 0 0 00 20 4 0 0 00
Interest Income 4 0 0 00
20X2
Jan. 15 Notes Payable 190 25 0 0 0 00 25 3 3 3 33
Interest Expense 3 3 3 33
1., 2., 3., 4., 5.
6. Interest Income for 20X1
Interest Income for 20X2
7. Interest Expense for 20X1
Interest Expense for 20X2
Interest Receivable
Unearned Rent Income
Notes Receivable
Dec. 1 20,000.00
Notes Payable
25,000.00Nov. 16 Nov. 1 36,000.00
20,000.00Mar. 31 100.00 100.00
25,000.00
Jan. 15
$100.00
$300.00
$250.00
$83.33
Jan. 1 Rev.
Dec. 31 Adj.
Dec. 31 Adj.
12,000.00
23148_Ch21_hr_TE_085-088.indd 88 1/24/18 5:07 PM