Financial Accounting-Acctg. Instructor-Turck Part B (continued) 129 (7)SupEx(AJES).docx: NAME use your own paper 2. On November 1, 2019, Zombie debited Prepaid Rent when it paid its equipment rental of $6,000. The payment represents rent costs for the months of November through January. a. Reconstruct the external journal entry that was recorded back on November 1, 2019. b. Prepare the necessary AJE to account for rent used during November and December. 3. On December 1, 2019, the company received $3,000 in cash from a tenant that is renting office space in Zombie's building. The cash receipt, representing rent for December, January February and March, was balanced in the accounting system with a credit to Deferred Rent Revenue. a. Reconstruct the external journal entry that was recorded back on December 1, 2019. b. Prepare the necessary AJE to account for service provided to tenant during 2019. 4. On June 1, 2019, the company borrowed $100,000 from the bank. The loan contract requires original principal plus interest at a 6% annual rate to be paid on January 1, 2020. a. Reconstruct the external journal entry that would have been recorded back on June 1, 2019. b. Prepare the necessary AJE to account for interest owed at 12/31/2019. c. Try to prepare the January 1, 2020 necessary journal entry required at maturity of the loan. (hint: you will need a compound entry involving three accounts) 5. On October 1, 2019, Zombie lent $60,000 to another company. A promissory note was signed stating original principal plus interest at a 9% annual rate is due to be paid back on October 1, 2020. a. Reconstruct the external journal entry that was recorded back on October 1, 2019. b. Prepare the necessary AJE to account for interest earned during 2019. c. Try to prepare the external October 1, 2020 journal entry required at maturity of the loan. (hint: you will need a compound entry involving four accounts) Principal usually refers to the original amount borrowed. Interest Rates are always stated in annual rates. Calculate the monthly or daily interest rates as follows: (monthly interest rate annual interest rate / 12 mos) or (daily interest rate - annual interest rate / 365 days) A M J J A S O N D F M A M JASON