Question
2.5 Recording Accrual & Deferral Events/Adjusting Entries Points: 24 items @ 1 pt. each = 24 pts. Total Directions: Prepare journal entries with the following
2.5 Recording Accrual & Deferral Events/Adjusting Entries Points: 24 items @ 1 pt. each = 24 pts. Total Directions: Prepare journal entries with the following information a). Purchased a 18 month insurance policy on June 1st for $36,000. Record the purchase along with the December 31 adjusting entry Date Account Debit Credit June 1 December 31
| Date | Account | Debit | Credit | ||||
| June 1 | |||||||
| December 31 | |||||||
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
8th edition
1111534918, 978-1111534912
