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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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