Using the information in M4- 5, prepare the adjusting journal entries required on October 31. a. Collected
Question:
a. Collected $ 2,400 rent for the period October 1 to December 31, which was credited to Unearned Revenue on October 1.
b. Paid $ 1,200 for a two- year insurance premium on October 1 and debited Prepaid Insurance for that amount.
c. Used a machine purchased on October 1 for $ 48,000. The company estimates annual depreciation of $ 4,800.
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a Unearned Revenue L 800 Rent Revenue R SE 800 800 ...View the full answer
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Related Book For 
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
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