Homework: Assignment 3 Score: 0.5 of 1 pt S3-7 (similar to) Answer the following questions about prepaid expenses 5of7 (7 complete)Y On October 1, Sky and Ocean Tree Service prepaid $2,400 for six months' rent Give the adusting entry to record rent expense at October 31 Include the date of the entry and an eoxplanat their balances at October 31 Sky and Ocean adjusts the accounts only at October 31, the end of its iscal year b. On October 1, Sky and Ocean Tree Service paid $1,100 for suppies At October 31, Sky and Ocean has $800 of supples on hand Make the required jounal entry at October 31. Then pos Post the October 1 and 31 transactions to the folowing T.accounts Be sure to calcuilate the ending balance of the accounts Assume no beginning balance in supples Prepaid Rent 2.,400 Oc 2000 Rent Expense Oct 31 400 O 1 400 Oct Bal Bal 400 b. On October 1, Sky and Ocean Tree Service paid $1,100 for supples At October 31, Sky and Ocean has $800 of supples on hand Make the requirod yournal entry at October 31 Then pos 31 Assume no beginning balance in supplers Prepare the adjusting journal entry to record the supples expense at October 31 Journal Entry Date Accounts and Explanations Debit Credit Ocd 31 Suppies Expense To record supplies expense Choose from any list or enter any number in the input fields and then click Check