ch 3 quest 5

On June 1, Big Star of Toledo prepaid six months of rent, $3,300. Read the Requirement 1. Record the journal entry for the June 1 payment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirements 1. Record the journal entry for the June 1 payment. 2. Record the adjusting entry required at June 30 . 3. Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances at June 30. (Ignore the Cash account.)