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Adjutho Entries The folloning information can be determined by analyring the accownto 1. On Augus 1, 2017, Shop kite rreised a 54,400 payment in adiance
Adjutho Entries The folloning information can be determined by analyring the accownto 1. On Augus 1, 2017, Shop kite rreised a 54,400 payment in adiance for rotal of ulhe Mue. The rental period is for one year hekinning on the date payment was rexered thop the roxrded the rccips as unearned rent 2. On March 1, 2017, Shop Rite paid its insurance agent 5,3,000 for the pecmium due an a 24-mmath corporate policy. Shop Rite recorded the payment as prepand invurance 3 Shop Rite purs its employee wages the middle of each month. The mumthly payroll fugnoring payrull takes) is $22,000. 4. Shop lite rechicd a note from a customer on June 1, 2017, as puyment for stikes. The amiant of the note is 51,000 with interest at 1mm. The note and intereat will be paid on June 1.2019 5. On Decemher 20, 2017. Shop Rite received a $2,500 check for senices. The transaction was recorded as uncarned revenue. Hy year-end, Shop Rite had completed three-fourths of the contracted services, The res of the services won't be completed until at least the midifle of January 2018. 6. On September 1, Shop Rite purchased 5400 worth of supplies. At therember 31, 2017, one-fourh of the supplies had hece used shop kite initially recorded the purhave of supplics as an asmt. shere appropeiate, prepare adjuaing puarnal entries at Decemher 11 . 2017, for each of these items
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