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A review of the ledger of Waterway Corporation at its year end, July $31,2024,$ produces the following unadjusted data for the

preparation of annual adjusting entries:

Prepaid Insurance, July $31,2024,$ unadjusted balance, $$9,120$ : The company purchased an insurance policy Policies

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Current Attempt in Progress

A review of the ledger of Waterway Corporation at its year end, July $31,2024,$ produces the following unadjusted data for the

preparation of annual adjusting entries:

Prepaid Insurance, July $31,2024,$ unadjusted balance, $$9,120$: The company purchased an insurance policy on December $1,$

$2022,$ with a two$-$year term, which expires November $30,2024.$

Buildings, July $31,2024,$ unadjusted balance, $$239,400$: The company owns a building purchased on September $1,2017,$ for

$$239,400,$ with an estimated $30-$year useful life. The company uses straight$-$line depreciation.

Deferred Revenue, July $31,2024,$ unadjusted balance, $$46,750$ : The selling price of a digital magazine subscription is $$60$ for

$24$ monthly issues delivered over a two$-$year period. The company had sold $1,100$ subscriptions on January $1,2023,$ during a

special promotion.

Salaries Payable, July $31,2024,$ unadjusted balance, $$0$: There are nine salaried employees. Salaries are paid every Monday

for the previous five$-$day workweek $($Monday to Friday$).6$ employees receive a salary of $$680$ each per week, and $3$ employees

earn $$720$ each per week. July $31$ is a Wednesday.

$($a$1)$ How much insurance expires per month for the building?

Insurance expires per month $

$($a$3)$ What was the original purchase price of the policy on December $1,2022$

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Show Attempt History

Current Attempt in Progress

A review of the ledger of Waterway Corporation at its year end, July $31,2024,$ produces the following unadjusted data for the

preparation of annual adjusting entries:

Prepaid Insurance, July $31,2024,$ unadjusted balance, $$9,120$: The company purchased an insurance policy on December $1,$

$2022,$ with a two$-$year term, which expires November $30,2024.$

Buildings, July $31,2024,$ unadjusted balance, $$239,400$: The company owns a building purchased on September $1,2017,$ for

$$239,400,$ with an estimated $30-$year useful life. The company uses straight$-$line depreciation.

Deferred Revenue, July $31,2024,$ unadjusted balance, $$46,750$ : The selling price of a digital magazine subscription is $$60$ for

$24$ monthly issues delivered over a two$-$year period. The company had sold $1,100$ subscriptions on January $1,2023,$ during a

special promotion.

Salaries Payable, July $31,2024,$ unadjusted balance, $$0$: There are nine salaried employees. Salaries are paid every Monday

for the previous five$-$day workweek $($Monday to Friday$).6$ employees receive a salary of $$680$ each per week, and $3$ employees

earn $$720$ each per week. July $31$ is a Wednesday.

$($a$1)$ How much insurance expires per month for the building?

Insurance e

Current Attempt in Progress

A review of the ledger of Waterway Corporation at its year end, July $31,2024,$ produces the following unadjusted data for the

preparation of annual adjusting entries:

Prepaid Insurance, July $31,2024,$ unadjusted balance, $$9,120$ : The company purchased an insurance policy on December $1,$

$2022,$ with a two$-$year term, which expires November $30,2024.$

Buildings, July $31,2024,$ unadjusted balance, $$239,400$ : The company owns a building purchased on September $1,2017,$ for

$$239,400,$ with an estimated $30-$year useful life. The company uses straight$-$line depreciation.

Deferred Revenue, July $31,2024,$ unadjusted balance, $$46,750$ : The selling price of a digital magazine subscription is $$60$ for

$24$ monthly issues delivered over a two$-$year period. The company had sold $1,100$ subscriptions on January $1,2023,$ during a

special promotion.

Salaries Payable, July $31,2024,$ unadjusted balance, $$0$ : There are nine salaried employees. Salaries are paid every Monday

for the previous five$-$day workweek $($Monday to Friday$).6$ employees receive a salary of $$680$ each per week, and $3$ employees

earn $$720$ each per week. July $31$ is a Wednesday.

$($a$1)$ How much insurance expires per month for the building?

Insurance expires per month

$($a$3)$ What was the original purchase price of the policy on December $1,2022?$

Original purchase price of the policy

xpires per month $

$($a$3)$ What was the original purchase price of the policy on December $1,2022?$

Hi can you solve question a$1$ its refering to number $1$ its not divided by $24$