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Prepare adjusting and subsequent entries for accrued revenue. BE4.8 (LO 3) Zieborg Maintenance Corp. has a $375 monthly contract with Crispy Treat Inc. for general
Prepare adjusting and subsequent entries for accrued revenue. BE4.8 (LO 3) Zieborg Maintenance Corp. has a $375 monthly contract with Crispy Treat Inc. for general maintenance services. Zieborg invoices Crispy on the first of the month for services that it performed in the previous month. Crispy must then pay for these services by the 10th of the following month. Zieborg has a November 30 year end and prepares adjusting entries monthly. a. Prepare any adjusting entry required on November 30 by Zieborg. b. Given your entry in part (a), will Zieborg also need to record a journal entry on December 1 when it invoices Crispy for services performed in November? Why or why not? c. Zieborg receives $375 from Crispy on January 10 for services performed in November. Prepare Zieborg's journal entry. Prepare adjusting and subsequent entries for interest expense. onth banl loan for Sun 000 from a bank at 6%
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