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Description Required: complete the following Exercises: Exercise 3 - 3 Exercise 3 - 4 Exercise 3 - 5 Exercise 3 - 3 Preparing adjusting entries
Description
Required: complete the following Exercises:
Exercise
Exercise
Exercise
Exercise Preparing adjusting entries annual prepaid expense LO
Dr Erica Chan, MD owns EC Health Clinic. She prepares annual financial statements and has a December yearend.
On October Dr Chan prepaid $ for four months of rent.
On November Dr Chan prepaid $ to renew the clinic's magazine subscriptions. The subscription is for one year.
On December Dr Chan paid $ for supplies. At the end of the year, $ of supplies had not been used.
Required:
For each transaction, record the initial journal entry and the adjusting entry required on December
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