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Accounting Adjustment Entry: Machinery is repaired and maintained by an outside maintenance company on an annual fee basis, payable in advance. The $1,800 fee for

Accounting Adjustment Entry:

Machinery is repaired and maintained by an outside maintenance company on an annual fee basis, payable in advance. The $1,800 fee for the year beginning September 1 was paid on September 1, 2012, and charged to Repairs and Maintenance Expense. What adjustment is necessary on December 31, 2012?

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