A$.$ ?Equipment was purchased on January $1,20$X$1,$ ?for $$60,000$ ?and has an estimated useful life of $7$ ?years with a salvage value of $$3,720.$ ?Depreciation is computed using the straight$-$line method.

B$.$ ?Signed a $5-$month contract for $$4,500$ ?of prepaid advertising on January $1,201.$

C$.$ ?Prepaid rent for the year on January $1,20$X$1,$ ?in the amount of $$22,200.$

D$.$ ?Purchased supplies for $$3,200$ ?on January $1,20$X$1.$ ?Inventory of supplies was $$2,800$ ?on January $31,201.$

Journal entry worksheet

$1$

$2$

$3$

$4$

Signed a $5-$month contract for $$4,500$ ?of prepaid advertising on January $1,201.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\frac{01}{31},$Advertising expense,,$],[,,,],[,,,],[,,,],[,,,],[,,,]]$