1. On March 1, 2019, Aloha Painting agreed to allow another company (DC Painting) to store equipment and paint in Alohas facility for $200 per month. A six month prepayment was paid upon signing of the agreement, but DC will not have to make the next payment until the first anniversary date of the agreement, at which time they will pay any outstanding storage fees to bring their account up to date.

Aloha Painting Company has reached the end of its first fiscal year, November 30, 2019.

Prepare any ADJUSTING JOURNAL ENTRIES required for Aloha Painting Co. at November 30, 2019