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Can you do it by hand 1 On January 1, 2014 Daphne Doodle Construction paid their annual insurance premium of $24,000 to AB Insurance Co.

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1 On January 1, 2014 Daphne Doodle Construction paid their annual insurance premium of $24,000 to AB Insurance Co. This will cover their insurance expense for all of fiscal year 2014. Journalize the original entry for Daphne Doodle for January 1st and the adjusting entry for July 31, 2014. Date Ref Debit Credit 2 From Question #1, prepare the original journal entry at January 1, 2014 for AB Insurance Co. and the adjusting entry for their fiscal year ending July 31, 2014. Date Ref Debit Credit 3 On June 1, 2014 Sylvester prepaid Tweety for his rent for 6 months; $500 each month totaling $3000. Prepare the original journal entry Tweety would make for the payment from Sylvester on June 1st. Also prepare the adjusting entry Tweety would make after the first month has expired on June 30th. Date Ref Debit Credit 1 From Question #3, prepare the journal entry Sylvester would make for the payment on June 1st. Also prepare the adjusting entry Sylvester would make after the first month has expired on June 30th. Date Account Name Ret Debit Credit 5 Doug owns Funny Board Co. and prepays for his supplies. On Feb 1, 2014 Doug paid $2,800 for supplies to Boards Unlimited. Prepare the Feb 1st journal entry for Funny Board Co. Also, at the fiscal year end on Dec 31, 2014, $150 worth of supplies remain. Prepare the necessary adjusting entry for Funny Board. Date Ref Debit Credit

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