Question: On August 1, 2012, Woodworks paid Warehouse Rentals $54,000 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December

On August 1, 2012, Woodworks paid Warehouse Rentals $54,000 for a 12-month lease on warehouse space.

Required
a. Record the deferral and the related December 31, 2012, adjustment for Woodworks in the accounting equation.
b. Record the deferral and the related December 31, 2012, adjustment for Warehouse Rentals in the accounting equation.

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