For each of the following events, prepare the journal entry (if one is required) to record the initial transaction, and then prepare the adjusting entry, if any, required on September 30, the end of the quarterly accounting period. Narrations are not required. You may assume that the initial journal entries that recorded the prepaid expenses and unearned revenues transactions followed the traditional rather than the alternative (Appendix 3A) treatment.

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Answer Date Account Titles Explanation Debit Credit a Aug 1 Prepai... View the full answer