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Here is a bit of information about four different firms. A. The Mesa Moons football team had received $1,500,000 in cash for advance ticket
Here is a bit of information about four different firms. A. The Mesa Moons football team had received $1,500,000 in cash for advance ticket sales in February. It is now December 31, and the season has ended. B. Coyote Company owes its employees $34,000 at the end of December, but no accrual has been made. It is now December 31. C. In April, Kratt Corporation made an advance payment of $9,000 to a local company for advertising that would run during October. It is now October 31, and the advertising has run. Assume an original entry was applied to prepaid advertising back in April. D. On March 1, Bronny Kitchen Supplies paid $2,000 in advance for insurance for the months of March and April, applying it to prepaid insurance. It is now March 31. Required: Determine if the above transactions require an adjusting entry or not. If so, please provide the correct adjusting entry. If not, please state "no entry required." Your answers to this problem should be placed in the space below this line. A Account Name Debit Credit B Account Name Debit Credit C Account Name Debit Credit D Account Name Debit Credit
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