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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balanc of each account Used prepaid insurance of $2,220. The Prepaid Insurance unadjusted balance as of December 31 is $10,900. Adjustment Type: Accrual Insurance Expense Prepaid Insurance Dec. 31 The unadjusted balance of Office Supplies at Dec. 31 is $11,100 and at year end the office supplies on hand totaled $500 Type here to search
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