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Marigold Games Inc. adjusts its accounts annually. The following information is available for the year ended Dece 1. Purchased a 1 -year insurance policy on
Marigold Games Inc. adjusts its accounts annually. The following information is available for the year ended Dece 1. Purchased a 1 -year insurance policy on June 1 for $1,512 cash. 2. Paid $5,460 on August 31 for 5 months' rent in advance. 3. On September 4, received $3,024 cash in advance from a corporation to sponsor a game each month for a for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $840 per month. Paid for the first 2 month (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5 , received $1,260 in advance from a gaming club. Determined that on December 31,$400 not yet been played. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titll indented when the amount is entered. Do not indent manually.) Marigold Games Inc. adjusts its accounts annually. The following information is available for the year ended Dece 1. Purchased a 1 -year insurance policy on June 1 for $1,512 cash. 2. Paid $5,460 on August 31 for 5 months' rent in advance. 3. On September 4, received $3,024 cash in advance from a corporation to sponsor a game each month for a for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $840 per month. Paid for the first 2 month (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5 , received $1,260 in advance from a gaming club. Determined that on December 31,$400 not yet been played. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titll indented when the amount is entered. Do not indent manually.)
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