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Life, Incorporated experienced the following events in Year 1 , its first year of operation: 1. Performed counseling services for $22,800 cash. 2. On February

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Life, Incorporated experienced the following events in Year 1 , its first year of operation: 1. Performed counseling services for $22,800 cash. 2. On February 1, Year 1, paid $15,600 cash to rent office space for the coming year: 3. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: o. Record the events in general ledger accounts under an accounting equation. b. Prepare an income statement, batance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2

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