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Collected $3,150 rent for the period October 1 to December 31, which was credited to Unearned Revenue on October 1. b. Paid $1,800 for a
Collected $3,150 rent for the period October 1 to December 31, which was credited to Unearned Revenue on October 1. b. Paid $1,800 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $51,000. The company estimates annual depreciation of $5,100.
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