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Need witht these journal entery? The prepaid insurance account shows a debit of 5,280, representing the cost of a 2-year fire insurance policy dated August
Need witht these journal entery?
The prepaid insurance account shows a debit of 5,280, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. On November 1, Rent Revenue was credited for Sl,800, representing revenue from a subrental for a 3-month period beginning on that date. Purchase of advertising materials for S800 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of S290 are on hand. Interest of S770 has accrued on notes payable. Prepare the following in general journal form. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) The adjusting entry for each itemStep by Step Solution
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