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4. the adjusting Entry. prepare your answer in Tabular form. The Cheyenne Company accumulates the following adjustment data at December 31 Styles 1. Revenue of
4. the adjusting Entry. prepare your answer in Tabular form.
The Cheyenne Company accumulates the following adjustment data at December 31 Styles 1. Revenue of $1,232 collected in advance has been recognized. 2. Salaries of $600 are unpaid. 3. Prepaid rent totaling $368 has expired 4. Supplies of $484 have been used 5. Revenue recognized but unbilled totals $720. 6. Utility expenses of $336 are unpaid. 7. Interest of $220 has accrued on a note payable. For each of the above items indicate: The type of adjustment (prepaid expense, unearned revenue, accrued revenue, or 1. accrued expense). 2. The account relationship (asset/liability, liability/revenue, etc.). 3. The status of account balances before adjustment (understatement or overstatement). FocusStep by Step Solution
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