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Blossom Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31,2022. 1. Purchased a 1 -year insurance policy
Blossom Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31,2022. 1. Purchased a 1 -year insurance policy on June 1 for $2,232 cash. 2. Paid $8,060 on August 31 for 5 months' rent in advance. 3. On September 4 , received $4,464 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $1,240 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5 , received $1,860 in advance from a gaming club. Determined that on December 31,$600 of these games had not yet been played. that was reduced.) Assets Aug. 31 Sept. 4 Nov. 30 Dec. 5
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