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Prepare the Adjusting entries a. The company purchased equipment for $60,000 cash on December 1 and the equipment is expected to last for 60 months.
Prepare the Adjusting entries a. The company purchased equipment for $60,000 cash on December 1 and the equipment is expected to last for 60 months. By December 31, one month of the equipment's use has expired. Record the amount of equipment expired. b. The Company received $4,000 cash in advance from customers on December 3. By December 31, only $200 of services have been provided. Record the service revenue earned
Transaction
Journal
Debit $$
Credit $$
a.
B.
Prepare the Adjusting entries
a.
The company purchased equipment for $60,000 cash on December 1 and the
equipment is expected to last for 60 months. By December 31, one month of the
equipment's use has expired. Record the amount of equipment expired.
b. The Company received $4,000 cash in advance from customers on December 3. By
December 31, only $200 of services have been provided. Record the service revenue
earned
Transaction | Journal | Debit $$ | Credit $$ |
a. |
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B. |
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The Practice Of Modern Internal Auditing
Authors: Lawrence B Sawyer
1st Edition
B0006C58OA, 978-0894130120
