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Barb Dwyer Security Services has a calendar year-end. The following transactions occurred during the year: On October 1, it paid for a nine-month insurance
Barb Dwyer Security Services has a calendar year-end. The following transactions occurred during the year: On October 1, it paid for a nine-month insurance policy for $4,122. You may assume an equal amount of the insurance is used up for each month the policy is valid. On October 30, it received $6,180 from a customer for security patrol services for the next five (5) consecutive months, beginning on November 1. You may assume the security patrol services are provided in an equal amount each month the contract is valid. On November 28, it billed $1,047 for security supplies which a customer had asked to be purchased for the customer. The customer paid the bill in full on December 13. On December 5, it received an invoice from the local newspaper for $350 for advertising it had placed. It paid the invoice on December 16. QUESTIONS: 1. For each transaction, prepare the journal entry to record the initial
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