Question

On October 1, 2016, Stokes Company paid Eastport Rentals $4,800 for a 12-month lease on warehouse space.
Required
a. Record the deferral and the related December 31, 2016, adjustment for Stokes Company in the accounting equation.
b. Record the deferral and the related December 31, 2016, adjustment for Eastport Rentals in the accounting equation.


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  • CreatedApril 20, 2015
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