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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 balance of each account. incurred interest expense for the last month of the year.Interest for the entire year is $10,560. Adjustment Type: Interest Expense Interest Payable Completed services that were paid for six months earlier, $4,070. The Sefvice Revenue unadjusted balance as of December 31 is $7,700. The Unearned Revenue balance as of December 31 is $8,100. Adjustment Type: Unearned Revenue Service Revenue
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