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Prepare the original Journal entries and the necessary adjusting or correcting entries. Assume that no entries have been made regarding the situation other than those
Prepare the original Journal entries and the necessary adjusting or correcting entries. Assume that no entries have been made regarding the situation other than those specifically described. Consider each situation separately. Journal descriptions are not 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. D) 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 'Revenue' on 1 March 2021. Prepare the original journal entries and the adjusting entries as of 30 June 2021. Accounts Debit Credit Pre-paid Rent 24,000 Original Cash 12,000 A) Adjusting - Rent Expense 24,000 Original Cash 24,000 B) Adjusting Cash 24,000 Original Unearned Revenue 24,000 C) Adjusting - Cash 24,000 Original Revenue 24,000 D) . Adjusting
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