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nt 3-Ch 3 i S Dr. Erica Chan, MD owns EC Health Clinic. She prepares annual financial statements and has a December 31, 2023 year-end.
nt 3-Ch 3 i S Dr. Erica Chan, MD owns EC Health Clinic. She prepares annual financial statements and has a December 31, 2023 year-end. a. On October 1, 2023, Dr. Chan prepaid $5,000 for four months of rent. b. On November 1, 2023, Dr. Chan prepaid $276 to renew the clinic's magazine subscriptions. The subscription is for one year. c. On December 1, 2023, Dr. Chan pays $2,775 for supplies. At the end of the year, $1,850 of supplies had not been used. Required: For the above transactions, record the initial journal entry and the adjusting entry required on December 31, 2023. a. View transaction list View journal entry worksheet No 1 2 Date Oct 01, 2023 Dec 31, 2023 Prepaid rent Cash Saved Rent expense Prepaid rent General Journal Debit 5,000 1,667 Credit 5,000 1,667
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