Question
please help with following different accounting a Deferred Expenses Insurance. On October 1, Pioneer Advertising paid $6,000 for a one-year fire insurance policy. Coverage began
please help with following different accounting
a Deferred Expenses
Insurance. On October 1, Pioneer Advertising paid $6,000 for a one-year fire insurance policy. Coverage began on October 1. Prepare journal entries for October 1 and October 31.
d Deferred Revenues (unearned revenues)
Firm AAA collected $1,000 rent for the period December 1, 2012, to April 1, 2013, which was credited to Unearned Rent Revenue on December 1, 2012. Prepare journal entry on December 31, 2012.
c Accrued Revenues
On October 1, Pioneer Advertising performed services worth $2,000 that were not billed to clients until October 31. Prepare the journal entries on October 1 and October 31.
dAccrued Expenses
Pioneer Advertising signed a three-month note payable in the amount of $50,000 on November 1. The note requires interest at an annual rate of 12 percent. Pioneer will pay the principal and interest on the day of maturity (January 31). Prepare the adjusting entry on December 31.
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