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Collected $1,200 rent for the period December 1 of the current year to April 1 of next year, which was credited to Unearned Rent Revenue
- Collected $1,200 rent for the period December 1 of the current year to April 1 of next year, which was credited to Unearned Rent Revenue on December 1.
- Purchased a machine for $32,000 cash on January 1. The company estimates annual depreciation at $3,200.
- Paid $5,000 for a two-year insurance premium on July 1 of the current year; debited Prepaid Insurance for that amount.
Transications / Assets / Liabailites / Stockholders Equity/ Revenues / Expenses / Net Income
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
8th Edition
0131810669, 978-0131810662
