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answer plz TentRenters Company sets up a large event tent for the local food festival. The tent will be rented to the Business Improvement Association
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TentRenters Company sets up a large event tent for the local food festival. The tent will be rented to the Business Improvement Association for two weeks for a total cost of $2,100. The event takes place over the Canada Day weekend. So, one week of the rental takes place in June, and the other week is in July. TentRenters will bill the Business Improvement Association on July 6 for the two-week rental. Record the June 30 adjusting entry to update TentRenters's financial records for the one week it has earned rental revenue. Complete the journal entry below. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Employees of Robert's Llama Farm work Monday through Friday and are paid every Friday for work done that week. The daily payroll is $24,000, and the last payday was Friday, December 26 . What is the required adjusting journal entry, if any, on Wednesday, December 31 ? (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Step by Step Solution
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