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a. Each Friday, SpotlessLoo pays employees for the current week's work. The amount of the weekly payroll is $7,500 for a 5-day workweek. This year,
a. Each Friday, SpotlessLoo pays employees for the current week's work. The amount of the weekly payroll is $7,500 for a 5-day workweek. This year, December 31 falls on a Wednesday. SpotlessLoo will pay its employes on January 2. b. On January 1 of the current year, SpotlessLoo purchased an insurance policy that covers 4 years, $39,200. c. The beginning balance of Cleaning Supplies was $3,800. During the year, SpotlessLoo purchased cleaning supplies for $5,000, and at December 31 , the cleaning supplies on hand total $2,100. d. During December, SpotlessLoo arranged for rentals at a Christmas and a New Year's Eve party at a resort. The client prepaid $8,200. SpotlessLoo recorded this amount as Unearned Revenue. SpotlessLoo estimates that the company has earned 40 percent of the total revenue during the current year and will earn the balance on January 3. e. On December 31, SpotlessLoo had earned $4,900 of a 2-month rental at the Dazzle Ice Palace. The Dazzle Ice Palace has stated that it will pay SpotlessLoo the entire balance due for the 2 months on February 1. f. Amortization for the current year includes Equipment, $3,200, and Trucks, $1,400. Make one enmnnund entru to rerord the amnrtization hut use conarato amnrtization arrounts for each
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