ABC Company pmpact to rent for six months at 54.800 on January 1, 20X1. On May 31 2041, what is the adjusting entry required by ABC Company on its books a) Debitory Expense Credit Prepaid Rent $4,000 54,000 a) Debitors Expense CreditRent Payable $4,000 $4.000 3,200 a) Debit: Pent Expense Credit: Prepaid Rent $3,200 A) Debit: Prepaid Pant d. CreditRent Payable 3.200 $9.200 QUESTION 9 For the year ended December 31, 20X3, XYZ Co. had total revenues of $1,842,000 and total expenses of $1,610,000. Dividends declared during 20x9 totaled $150,000. Which of the following entries was not a closing entry? Debit: Retained earnings..... ..150,000 a. Credit: Dividends payable. 150,000 Debit: Income summary. 232,000 Ob Credit: Retained earrings 232,000 Debit: Revenues. 1,842,000 Credit: Income summary 1,842,000 Debit: Income summary d. Credit: Expenses 1,610,000 ........... 1.610,000 Ten steps in the accounting procesa in random order include the following 1. Record adjusting journal entries in the general journal 2. Transfer adjusting journal entries from the general journal into the general lodone 3. Transfer joumal entries from the general journal into the general ledger 4. Prepare an atter closing trial balance 6. Prepare an adjusted til balance 6 Record journal entries in the general man 7. Prepare financial statements 8. Record clonins mal entries in the general journal. 9. Prepare an unausted tried balance 10. Transfer closing journal entries from the general joumal into the general lecom The correct chronological order in which the above steps are performed is: 23,6,9, 2, 1, 5, 7.10, 4, 8 . 6,3,4, 1, 2,5,7,8,10,4 3,6,9, 1.2.5, 8, 10, 4.7. 0.3, 6, , 2, 1,5,8, 7.10, 4