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Question 20 At the end of 2017, Sunland Company made four adjusting entries for the following items: 1. Depreciation expense, $25900. 2. Expired insurance, $2130
Question 20
At the end of 2017, Sunland Company made four adjusting entries for the following items:
1. Depreciation expense, $25900.
2. Expired insurance, $2130 (originally recorded as prepaid insurance.)
3. Interest payable, $5000.
4. Rent receivable, $9000.
In the normal situation, to facilitate subsequent entries, the adjusting entry or entries that may be reversed is (are)
Entry No. 2, No. 3 and No. 4.
Entry No. 3 only.
Entry No. 4 only.
Entry No. 3 and No. 4.
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