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Each of the following independent events requires a year-end adjusting entry a. Paid $9,600 cash in advance on July 1 for a one-year lease on
Each of the following independent events requires a year-end adjusting entry a. Paid $9,600 cash in advance on July 1 for a one-year lease on office space. b. Purchased $2,700 of supplies on account on April 15. At year-ond, $400 of supplies remained on hand. c. Received a $8,400 cash advance on July 1 for a contract to provide services for one year beginning immediately. d. Poid $4,300 cash in advance on February 1 for a one-year Insurance policy. ok Required Record each event and the related adjusting entry in general journal format. The first event is recorded as an example. Assume a December 31 closing date. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Date Account Titlen July 1 Prepaid rent Cash Debit Credit 9,600 9,600 ces 4,800 Dec. 31 Rent Expense (9,600 X 6/12) Prepaid rent 4.800 View transaction filet Journal entry worksheet 1 2 3 4 5 6 Record supplies purchase on account. Note: Enter debits before credits General Journal Debit Credit Date Apr. 15 Record entry Clear entry View general Journal
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