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Prepare the original Journal entries and the necessary adjusting or correcting entries. Asume that no enties tambene regarding the situation other than those specifically described.
Prepare the original Journal entries and the necessary adjusting or correcting entries. Asume that no enties tambene regarding the situation other than those specifically described. Consider each situation separately. Scorral descriptive we nex required. A) On 1 March 2021, Brian (tenant) paid $24,000 for six months' rent. Brian recorded the payment as a debit to "Prepaid Rent and a credit to 'Cash'on 1 March 2021. Prepare the original journal entries and the adjusting entries as of 30 June 2021. B) On 1 March 2021, Brian (tenant) paid $24,000 for six months' rent. Brian recorded the payment as a debit to "Rent Expense" and a credit to 'Cash' on 1 March 2021. Prepare the original journal entries and the adjusting entries as of 30 June 2021. On 1 March 2021, Victor (landlord) received $24,000 for six months' rent. Victor recorded the transaction as a debit to "Cash and a credit to 'Unearned Revenue' on 1 March 2021. Prepare the original journal entries and the adjusting entries as of 30 June 2021. .) On 1 March 2021. Victor (landlord) received $24,000 for six months' rent. Victor recorded the transaction as a debit to "Cash nd a credit to "Revenue' on 1 March 2021. Prepare the original journal entries and the adjusting entries as of 30 June 2021 Debit Credit Accounts 24.000 Pre-paid Rent 12,000 Accounts Debit Credit Pre-paid Rent Original 24.000 Cash 12.000 A) Adjusting . Rent Expense 24,000 Original Cash 24,000 B) Adjusting Cash 24,000 Original 24,000 Unearned Revenue C) Adjusting + . 24,000 Cash Original 24,000 Revenue D) 4 Adjusting
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