Kee Company accumulates the following adjustment data at December 31. Indicate (a) The type of adjustment (prepaid

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Kee Company accumulates the following adjustment data at December 31. Indicate

(a) The type of adjustment (prepaid expense, accrued revenue, and so on),

(b) The status of accounts before adjustment (overstated or understated).

1. Supplies of $100 are on hand.

2. Services performed but not recorded total $900.

3. Interest of $200 has accumulated on a note payable.

4. Rent collected in advance totaling $650 has been earned.

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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