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On October 1, Kids Sport of Toledo prepaid six months of rent, $4,800. Requirements 1. Record the journal entry for the October 1 payment. 2.

On October 1, Kids Sport of Toledo prepaid six months of rent, $4,800.

Requirements

1.

Record the journal entry for the

October 1

payment.

2.

Record the adjusting entry required at

October 31.

3.

Using T-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances at

.October 31.

(Ignore the Cash account.)

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