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O Prepayment of Expenses JDM Inc. made the following prepayments for expense items during the year a. Prepaid building rent for 1 year on
O Prepayment of Expenses JDM Inc. made the following prepayments for expense items during the year a. Prepaid building rent for 1 year on April 1 by paying $6,576. Prepaid rent was debited for the amount paid. b. Prepaid 12 months' insurance on October 1 by paying $4,560. Prepaid insurance was debited. c. Purchased $5,200 of office supplies on October 15, debiting supplies for the full amount. There were no office supplies on hand as of October 15. Office supplies costing $1,085 remain unused at December 31. d. Paid $564 for a 12-month service contract for repairs and maintenance on a computer. The contract begins November 1. The full amount of the payment was debited to prepaid repairs and maintenance. Required: 1. Prepare journal entries to record the payment of cash for each transaction. If an amount box does not require an entry, leave it blank Apr. 1 Oct. 1 Oct. 15 Nov. 1 0000 00 00 0
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