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Problem 3 : P3A-38A (1) Background: Rapid Way Pack'n Mall completed the transactions listed below during November and December. 11/01/2018-Paid $9,600 for store rent covering
Problem 3 : P3A-38A (1) Background: Rapid Way Pack'n Mall completed the transactions listed below during November and December.
- 11/01/2018-Paid $9,600 for store rent covering the six-month period ending April 30, 2019.
- 11/01/2018-Paid $6,000 insurance covering the five-month period ending March 31, 2019.
- 12/01/2018-Collected $9,000 in advance from Carly Enterprises. The service revenue will be earned evenly over the next five months (ending April 30, 2019).
- 12/01/2018-Collected $7,200 cash in advance from Crush Casualties. The service revenue will be earned $2,400 monthly over the three-month period ending February 28, 2019.
- 12/31/2018-Record the adjustment needed for Prepaid Rent.
- 12/31/2018-Record the adjustment needed for Prepaid Insurance.
- 12/31/2018-Record the adjustment needed for Unearned Revenue related to Carly Enterprises.
- 12/31/2018-Record the adjustment needed for Unearned Revenue related to Crush Casualties.
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Trade Based Money Laundering
Authors: John A. Cassara
1st Edition
1119078954, 9781119078951
