Curb Company completed various transactions during 2006.

The annual accounting period ends December 31, 2006.

Prepare journal entries for each transaction.

Prepare all adjusting entries required on December 31, 2006.

Journal Entry:

Purchases (+A) $13,580Cash (-A) $13,580

Journal Entry:

Cash (+A) $500,000Notes Payable (+L)

$500,000

Journal Entry:

Cash (+A) $10,000Unearned service rev. (+L)

$10,000

Journal Entry:

Unearned service rev. (-L) $2,500Service revenue (+R, +SE)

$2,500

Journal Entry:

Utilities Expense (+E, -SE) $540Accrued Exp. Payable (+L)

$540

Journal Entry:

Wages Expense (+E, -SE) $12,000Accrued Exp. Payable (+L)

$12,000

Interest expense for 2006:$500,000 x 8% x 9/12 = $30,000

Journal Entry:

Interest Expense (+E, -SE) $30,000Accrued Exp. Payable (+L) $30,000