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Please explain in details Exercise 131 When the accounts of Strasberg Inc. are examined, the adjusting data listed below are available on December 31, the
Please explain in details Exercise 131 When the accounts of Strasberg Inc. are examined, the adjusting data listed below are available on December 31, the end of the annual period. 1. Interest has accrued on a $20,000, 6% note payable, issued on May 1. 2. On September 1, Rent Revenue was credited for $3,000, representing revenue from a subrental for a 6-month period beginning on that date. 3. Purchase of supplies for $1,500 during the year was recorded in the Supplies Expense account. On December 31, supplies of $500 are on hand. Your answer is partially correct. Try again. Prepare the adlu ting ry for eachitem. Credit account titles are automatically ndented when the amount is entered. Do not indent manually
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