Question
On the AJE worksheet, prepare the adjusting journal entries in good form for the following items. Identify each entry by letter in Column B. Round
On the AJE worksheet, prepare the adjusting journal entries in good form for the following items. Identify each entry by letter in Column B. Round all answers to the nearest dollar. You may omit explanations. Leave a blank row between each journal entry. All the accounts you need are given on the worksheet. Use only these accounts. Prepare journal entries and financial statements for the year ended December 31, 2017. No adjusting entries have been made since December 31, 2016. Do not use "Cash" accounts, only one balance sheet account and one income statment account.
g. Grizzlies, Inc. rented idle office space to Squirrels, Inc. on February 1, 2017, at a rate of $1,400 per month. On this date Grizzlies, Inc. credited Unearned Rent Revenue for one year of rent received in advance.
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