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"Burning and Inch". Describe this measurement.

what measurement

Explanation:

You measured from the 1" mark (“burning” the first inch), then forgot to add an inch when marking.

Explanation:

Another way to say it is "Burn an Inch."

ACCOUNT          

interest expense  144debit

interest payable  144credit

rent expense        1200debit

prepaid expense  1200credit

unearned revenue  4600debit

rent revenue  4600credit

depreciation expense  3700debit

acc dep machine  3700credit

salaries expense  3200debit

salaries payable  3200credit

supplies expense  2600debit

supplies  2600credit

Explanation:

Interest is calculate doing:

principal x rate x time

7,200 x 0.08 x 3/12 = 144

rent

1,800 for 3 months  there is 2 expired 1,800 x 2/3 = 1,200

earned revenue on rent

11,040 x 5 monhts / 12 = 4,600

supplies:

beginning + purchase - ending = consumed supplies

600 + 3,700 - 1,700 = 2,600