Original and Adjusting Entries Quiz I. Make journal entries as needed for the following business events for Golden Inc. a. On March 1 Golden purchased land by signing a $100,000,5% note due in three years. b. On April 1 Golden collected one year's rent in advance from a company that sublet part of Golden's warehouse. The $24,000 was recorded in an income statement account. c. On August 1 Golden paid six months rent in advance for a retail outlet in a new mall. The $9,000 was recorded in a balance sheet account. II. Make any necessary adjusting journal entries for the above information. Golden Inc. has a December 31 year end. Original and Adjusting Entries Quiz I. Make journal entries as needed for the following business events for Golden Inc. a. On March 1 Golden purchased land by signing a $100,000,5% note due in three years. b. On April 1 Golden collected one year's rent in advance from a company that sublet part of Golden's warehouse. The $24,000 was recorded in an income statement account. c. On August 1 Golden paid six months rent in advance for a retail outlet in a new mall. The $9,000 was recorded in a balance sheet account. II. Make any necessary adjusting journal entries for the above information. Golden Inc. has a December 31 year end