Instructions Hudson Corp. has extra space in its warehouse and agrees to rent it out to Stillwater Company at the rate of $2,000 per month. The space was made available to Stillwater beginning on September 1. Under the terms of the agreement, Stillwater pays the month's rent on the fifth day after the end of the month. Assume that Hudson prepares adjusting entries at the end of each month. First Question Required: 1. How much revenue should Hudson record in September? 1. How much revenue should Hudson record in September? How much revenue should Hudson record in October? 2. Prepare the necessary entries on Hudson's books during the month of October $ Chart of Accounts ASSETS How much reveviue should Hudson record in October REVENUE 411 Rent Revenue $ 111 Cash 121 Accounts Receivable 128 Rent Receivable EXPENSES 500 Cost of Goods Sold 141 Inventory 152 Prepaid Insurance IT INCOME 521 Salaries and Wages Expense 532 Utilities Expense 154 Supplies 174 Equipment 179 Accumulated Depreciation 533 Insurance Expense 534 Rent Expense LIABILITIES 211 Accounts Payablo 231 Salaries and Wages Payable 537 Supplies Expense 541 Depreciation Expense 561 Advertising Expense 559 Miscellaneous Expenses 235 Notes Payable 238 Interest Payable 281 Income Taxes Payable 810 Interest Expense 910 Income Tax Expense EQUITY 311 Capital Stock 331 Retained Earnings General Journal 2. Prepare the necessary entries with the impact on the financial statements on Hudson's books during the month of October. General Journal instructions PAGE 1 IMPACT ON FINANCIAL STATEMENTS GENERAL JOURNAL BALANCE SHEET INCOME STATEMENT DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE EXPENSES NET INCOME 1 2 3 4