Question
I just need the last parts in red answered Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year
I just need the last parts in red answered
Action Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2017.
1. Purchased a 1-year insurance policy on June 1 for $1,200 cash.
2. Paid $6,800 on August 31 for 5 months rent in advance.
3. On September 4, received $2,880 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school.
4. Signed a contract for cleaning services starting December 1 for $850 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,450 in advance from a gaming club. Determined that on December 31, $500 of these games had not yet been played.
Your answer is cerrect For cach of the abowe transactiens, prepar th oumal crtry to rccord the Initial tranzaction. (It no entry i s required, sclect "No Entry for the account titics and enter 0 for the amounts. Credit account titics arc automatically indcnted when the amount is cntered. Do not Indont manusty Account Titles and Explanatior Debit Cred 1.1, 201 cash Prepaid Rent S. 4, 2017 ash Uneamed Service Revenue 4.' , 2017repaid Caninn Cash S Der. 5, 2017 Uneamed Service RevenueStep by Step Solution
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