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1. Record the adjusting entry related to the company's insurance? 2. Record payment of accrued and current salaries? 3. Record the receipt of two months

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1. Record the adjusting entry related to the company's insurance?
2. Record payment of accrued and current salaries?
image text in transcribed
3. Record the receipt of two months rent
Help Save a company purchased supplies for $12.390, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2015, totaled $2,640 b. An analysis of the company's Insurance policies provided the following facts. ate of lMonths of Policy I Purchasellll Coverage Cost April 1, 2014 April 1, 2015 August 1 24 36 $10,032 8,856 C 2015 12 7,632 The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.) c. The company has 15 employees, who earn a total of $2.450 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2015, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2016. d. The companv purchased a buildina on Januarv 1. 2015. It cost $860.000 and is Prex 9 of 9 Next pptx

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