LAULULATUR HESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 3-20 Your answer is partially correct. Try again. When the accounts of Sheffield Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period. 1. The prepaid Insurance account shows a debit of $4,704, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. 2. On November 1, Rent Revenue was credited for $1,716, representing revenue from a subrental for a 3-month period beginning on that date. 3. Purchase of advertising materials for $793 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $306 are on hand. 4. Interest of $708 has accrued on notes payable Prepare the following in general journal form. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select " entry for the account titles and enter for the amounts.) Debit Credit (a) The adjusting entry for each item. No. Account Titles and Explanation 1. Insurance Expense Prepaid Insurance 2. Rent Revenue USU T Unearned Rent Revenu 3. Administrative Expenses 306 T Advertising Expense No. Account Titles and Explanation Debit Credit 1. No Entry T No Entry 2. Unearned Rent Revenue | Rent Revenue 572 3. TUnearned Service Revenue 1716 Service Revenue 1716 Supplies 487 487 Advertising Expense Click if you would like to Show Work for this question: Open Show Work CHOW LIST OF ACCOUNTS