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NEED ADJUSTED JOURNAL ENTRIES FOR THESE. YEAR ENDING AUGUST 31 5 Customers must pay a $200 deposit if they want to book a cottage during

NEED ADJUSTED JOURNAL ENTRIES FOR THESE. YEAR ENDING AUGUST 31

5 Customers must pay a $200 deposit if they want to book a cottage during the peak period.
An analysis of these bookings indicates that 355 deposits were received and credited to Deferred
Revenue. Only 45 of these deposits have not been earned by August 31.
8 On August 25, a local business contracted with Rocky Mountain to rent one of its cottages for four
months, starting October 1, at a rate of $3,000 per month. An advance payment equal to two
months' (October and November) rent was received on August 31 and credited to Rent Income.

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