Prepare adjusting entries as of December 3 1 of the current year for the following transactions. Assume
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Question:
Prepare adjusting entries as of December of the current year for the following transactions. Assume all previous journal entries were recorded correctly.
Collected $ rent for the period December of the current year to April of next year, which was previously credited to Unearned Rent Revenue on December
Purchased supplies for $ cash and correctly recorded the transaction on January So far, $ of the supplies have been used up
Paid $ for a twoyear insurance premium on July of the current year. Correctly recorded the transaction by debiting Prepaid Insurance on July
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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