Journal entries for rental receipts and payments. Arizona Realty Company rents office space to Hagen Consultants at

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Journal entries for rental receipts and payments. Arizona Realty Company rents office space to Hagen Consultants at the rate of $\$ 900$ per month. Arizona Realty Company has received all rentals due through April 30, Year 3. The following transactions occurred on the dates indicated:

a. May 1, Year 3: Collection, $\$ 900$

b. June 1, Year 3: Collection, $\$ 1,800$

c. August 1, Year 3: Collection, $\$ 2,700$

Present journal entries for these transactions and for adjusting and closing entries from May 1 to August 31 (inclusive) as they relate to both companies, assuming that each company closes its books monthly.

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