Answer the following questions about prepaid expenses: a. On December 1, High and Low Tree Service prepaid $3,600 for six months' rent. Give the adjusting entry to record rent expense at December 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at December 31. High and Low adjusts the accounts only at December 31, the end of its fiscal year. b. On December 1, High and Low Tree Service paid $900 for supplies. At December 31, High and Low has $400 of supplies on hand. Make the required journal entry at December 31. Then post all amounts to the accounts and show their balances at December 31. Assume no beginning balance in supplies. Post the December 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. Prepaid Rent Rent Expense 600 600 Dec 1 Bal Date Dec 31 3600 Dec 31 3000 600 Bal Dec 31 b. On December 1, High and Low Tree Service paid $900 for supplies. At December 31, High and Low has $400 of supplies on hand. Make the required journal entry at December 31. Then post all amounts to the accounts and show their balances at December 31. Assume no beginning balance in supplies. Prepare the adjusting journal entry to record the supplies expense at December 31. Bal Journal Entry Accounts and Explanations Debit Post the December 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. Supplies Supplies Expense Bal Credit Time Remaining: 00:22:49 Next

Answer the tollowing questions about propaid expensus: a. On December 1. Hegh and Low Tree Service prepois $3.600 sor sx months' rent. Gwe the adjusting antry to record rent expense at December 31 , include the dase of the entry and an explanaton. Then post all amounts to the two accounts involved, and shew their balances at December 31 . High and Low adjusts the acceunts only at December 31 , the end of its fiscal year. b. On December 1, High and Low Tree Service paid \$000 for supplies. At December 31, High and Low has $400 of supples on hand, Make the required joumal entry at December 31 , Then post a ameunts to the acoounts and show their balances at December 31 . Assume no beginning balance in supplies Post the December 1 and 31 transacticns to the folowing T-accounts. Be sure to calculate the anding balance of the accounts. b. On December 1, High and Low Tree Servee paid $900 for supplies. At December 31. High and Low has $400 of supplies on hand Make the reeuired journal entry at December 31 . Then post all amcunts to the accounts and show their belances at December 31 . Assume no beginning balance in supples. Prepare the adjusting journol entry to recerd the supplies expense at December 31. Answer the folowing questions about presad expenses arounts to the accounts and show ther halences at December 31 . Assome no begining bulance in supphes. Piegare the adusina jsumal entry to recove the wpples expente at Decenber 31