Chapter 3 (Protected View) (QLast saved by user) -Word (Unlicensed Product) References Mailings Review View Help Tell me what you want to do ternet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Durawash Laundry purchased $8,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 is a. Debit Supplies Expense, $3,000; Credit Supplies, $3,000, b. Debit Supplies, $3,000; Credit Supplies Expense, $3,000. c. Debit Supplies, $5,000; Credit Supplies Expense, $5,000 d. Debit Supplies Expense, $5,000; Credit Supplies, $5,000. 19) On July 1, Outdoor Sports Store paid $15,000 to Midtown Realty for 4 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Outdoor Sports Store is a. Debit Rent Expense, $15,000; Credit Prepaid Rent, $3,750. b. Debit Prepaid Rent, $3,750: Credit Rent Expense, $3,750, c. Debit Rent Expense, $3,750; Credit Prepaid Rent, $3,750 d. Debit Rent Expense, $15,000; Credit Prepaid Rent, $15,000. 20) 21). Boneta City College sold season tickets for the 2016 football season for $250,000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30 a. is not required. No adjusting entries will be made until the end of the season in November b. will include a debit to Cash and a credit to Ticket Revenue for $62,500. c. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $93,750. d. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $83,333