Problem 2: Adjusting Entries

Please type in the adjusting entries on the dates indicated beneath each transaction

A) On 4/1/x1, the XYZ company paid $1800 for an insurance policy for the next 18 months

Please provide the journal entries on:

4/1/x1

12/31/x1

B) On 5/1/x1, the XYZ company received $1,200 for consulting services to be provided (by the XYZ company) for the next 12 months.

Please provide the journal entries on:

5/1/x1

12/31/x1

C) On 11/1/x1 the XYZ Company signed a contract to rent a building $1800 from the ABC company for the period 11/1/x1 until 5/1/x2. The rent will be paid on 5/1/x2.

Please provide the journal entries on:

11/1/x1

12/31/x1

5/1/x2