Question
Partial Question 4 1/2 pts Indicate the type of adjusting journal entry that will be required in each of the described scenarios. Desert Company
Partial Question 4 1/2 pts Indicate the type of adjusting journal entry that will be required in each of the described scenarios. Desert Company pre-purchases 6-months of IT Services Accrued Revenue Desert Company is paid in advance for goods to be shipped next month Deferred Revenue Desert Company has earned interest this month but the bank will not pay until the end of the quarter Accrued Expense Desert Company pays its landlord on January 1st for the entire year of rent Deferred Expense Answer 1: Accrued Revenue Answer 2: Deferred Revenue Answer 3: Accrued Expense Answer 4: Deferred Expense
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