Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. nelson company uses a perpetual inventory system. additional information: a. store supplies still available at fiscal year-end amount to $1,750. b. expired insurance, an administrative expense, for the fiscal year is $1,400. c. depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year. d. to estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $10,900 of inventory is still available at fiscal year-end.

The journal entry for Nelson company are as follows uses a perpetual inventory system:

Info  General Journal  Debit  Credit

aStore Supplies expense    $1,750  

 To Store Supplies    $1,750  

bInsurance Expense    $1,400  

 To Prepaid Insurance    $1,400  

cDepreciation expense    $1,525  

   To Accumulated Depreciation - Store equipment  $1,525  

dCost of goods sold    $10,900  

 To Merchandize Inventory    $10,900  

it established new limitations on use and disclosure for marketing purposes, prohibited selling medical information, expanded individuals’ rights to accessing their own information, and to obtain restrictions from certain disclosures of protected heath information to health plans.