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Please assist in configuring the following: Preparing Entries Across Two Periods The following selected accounts appear in Zimmerman Company's unadjusted trial balance at December 31,
Please assist in configuring the following:
Preparing Entries Across Two Periods The following selected accounts appear in Zimmerman Company's unadjusted trial balance at December 31, 2015, the end of its fiscal year (all accounts have normal balances) Prepaid Maintenance Supplies Unearned Commission Fees 8,500 Commission Fees Earned 84,000 Rent Expense $2,700 8,400 10,800 Additional information is as follows. 1. On September 1, 2015, the company entered into a prepaid equipment maintenance contract. Zimmerman Company paid $2,700 to cover maintenance service for 6 months, beginning September 1, 2015. The $2,700 payment was debited to Prepaid Maintenance. 2. Supplies available on December 31 are $3,200 3. Unearned commission fees at December 31 are $4,000. 4. Commission fees earned but not yet billed at December 31 are $2,800. (Hint: Debit Fees Receivable.) 5. Zimmerman Company's lease calls for rent of $900 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. This additional rent is payable on January 10 of the following year. (Hint:Use the adjusted amount of commissions earned in computing the additional rent.) Required (a) Prepare Zimmerman Company's adjusting entries at December 31, 2015 using the financial statement effects template
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