Question: On February 1, Risa Inc. purchases a one year Amazon Prime membership for $120 Cash. Prepare the adjusting journal entry Risa should record on February

On February 1, Risa Inc. purchases a one year Amazon Prime membership for $120 Cash.

Prepare the adjusting journal entry Risa should record on February 29 related to this transaction.

DR: Cash, Expense, Prepaid Expense, or Accrued Expense (Amount: 120,10)

CR: Cash, Expense, Prepaid Expense, or Accrued Expense (Amount: 120,10)

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