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Exercise 3-04 Luong Corporation encounters the following situations Identify what type of adjusting entry (prepaid expense uneamed revenue situation at December 31, 2020 1. Luong

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Exercise 3-04 Luong Corporation encounters the following situations Identify what type of adjusting entry (prepaid expense uneamed revenue situation at December 31, 2020 1. Luong collects $1.500 from a customer in 2020 for services to be performed in 2021. 2. Luong incurs wilty expense which is not yet paid in cash or recorded. 3. Luong's employees worked 3 days in 2020 but will not be paid until 2021. 4. Luong performs services for customers but has not yet received cash or recorded the trane 5. Luong paid $2.800 rent on December 1 for the 4 months starting December 1. tedy 6. Luong received cash for future services and recorded liability until the service was perfor 7. Luong performed consulting services for a client in December 2020. On December 31, it had not bile 8. Luong paid cash for an expertise and recorded an asset until the item was used up. 9. Luong purchased $900 of supplies in 2020; at year-end. $400 of supplies remain unused. 10. Luong purchased equipment on January 1, 2020, the equipment will be used for 5 years 11. Luong borrowed $12,000 on October 1, 2020, signing an 8% one year note payable Click if you would like to Show Work for this questioni Qen Shower LINK TO TEXT LINK TO TEXT UN TO TEXT

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