Question: Help! I am so confused I keep getting confused with which one a credit and debit. 1. On June 1, 2019, Cain Company, a new

Help!

I am so confused I keep getting confused with which one a credit and debit.

1. On June 1, 2019, Cain Company, a new firm, paid $5,880

1. On June 1, 2019, Cain Company, a new firm, paid $5,880 rent in advance for a seven-month period. The $5,880 was debite Prepaid Rent account 2. On June 1, 2019, the firm bought supplies for $7,150. The $7,150 was debited to the Supplies account. An inventory of suppli the end of June showed that items costing $2,900 were on hand. 3. On June 1, 2019, the firm bought equipment costing S47,520 The equipment has an expected useful life of 9 years and no value. The firm will use the straight-line method of depreciation. repare end-of-June adjusting entries for Cain Company. View transaction list Journal entry worksheet 2 3 Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits. ransaction Record entry General Joumal Cleu entry Debit Credit View general journal

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