K Answer the following questions about prepaid expenses: a. On March 1, River and Valley Tree Service prepaid $6,600 for six months' rent. Give the adjusting entry to record rent expense at March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at March 31. River and Valley adjusts the accounts only at March 31, the end of its fiscal year. b. On March 1, River and Valley Tree Service paid $850 for supplies. At March 31, River and Valley has $800 of supplies on hand. Make the required journal entry at March 31. Then post all amounts to the accounts and show their balances at March 31. Assume no beginning balance in supplies. a. On March 1, River and Valley Tree Service prepaid $6,600 for six months' rent. Give the adjusting entry to record rent expense at March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at March 31. River and Valley adjusts the accounts only at March 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at March 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Accounts and Explanations Date Mar 31 Y Bal ECE Debit Credit Post the March 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. Prepaid Rent Rent Expense Bal b. On March 1, River and Valley Tree Service paid $850 for supplies. At March 31, River and Valley has $800 of supplies on hand. Make the required journal entry at March 31. Then post all amounts to the accounts and show their balances at March 31. Assume no beginning balance in supplies. Prepare the adjusting journal entry to record the supplies expense at March 31.

Arwwet the fothwing questions aboul preosid expentans Precare the adfusting fame erby to record the supples expense at March at