Answer the following questions about prepaid expenses:

a.

On MarchMarch 1, River and ValleyRiver and Valley Tree Service prepaid $ 3 comma 600$3,600 for six months' rent. Give the adjusting entry to record rent expense at March 31.March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at March 31.March 31. River and ValleyRiver and Valley adjusts the accounts only at MarchMarch 31, the end of its fiscal year.

b.

On MarchMarch 1, River and ValleyRiver and Valley Tree Service paid $ 1 comma 100$1,100 for supplies. At MarchMarch 31, River and ValleyRiver and Valley has $ 500$500 of supplies on hand. Make the required journal entry at MarchMarch 31. Then post all amounts to the accounts and show their balances at MarchMarch 31.

a. On

MarchMarch

1,

River and ValleyRiver and Valley

Tree Service prepaid

$ 3 comma 600$3,600

for six months' rent. Give the adjusting entry to record rent expense at

March 31.March 31.

Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at

March 31.March 31.

River and ValleyRiver and Valley

adjusts the accounts only at

MarchMarch

31, the end of its fiscal year.Prepare the adjusting journal entry to record the rent expense at

MarchMarch

31. (Record debits first, then credits. Select the explanation on the last line of the journal entrytable.)