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On October 1, Year 2, Stokes Company paid Eastport Rentals $4,800 for a 12-month lease on warehouse space. Required a. Record the deferral and the
On October 1, Year 2, Stokes Company paid Eastport Rentals $4,800 for a 12-month lease on warehouse space. Required a. Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. b. Record the deferral and the related December 31, Year 2, adjustment for Eastport Rentals in the accounting equation. Complete this question by entering your answers in the tabs below. Required A Required B Record the deferral and the related December 31, Year 2, adjustment for Stokes Company in the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) STOKES COMPANY Accounting Equation - Year 2 Event Paid 12 months rent Adjustment for 3 months used Assets = Prepaid Cash = Rent II Liabilities + Stockholders' Equity + Common Stock + Retained Earnings + + + +
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