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Question Prepare the original Journal entries and the necessary adjusting or correcting entries. Assume that no entries have been made regarding the situation other
Question 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 May 2022, Ivan (tenant) paid $6,000 for six months' rent. Ivan recorded the payment as a debit to 'Prepaid Rent' and a credit to 'Cash' on 1 May 2022. Prepare the original journal entries and the adjusting entries as of 30 June 2022. B) On 1 May 2022, Ivan (tenant) paid $6,000 for six months' rent. Ivan recorded the payment as a debit to 'Rent Expense' and a credit to 'Cash' on 1 May 2022. Prepare the original journal entries and the adjusting entries as of 30 June 2022. C) On 1 May 2022, Alija (landlord) received $6,000 for six months' rent. Alija recorded the transaction as a debit to 'Cash' and a credit to 'Unearned Revenue' on 1 May 2022. Prepare the original journal entries and the adjusting entries as of 30 June 2022. D) On 1 May 2022, Alija (landlord) received $6,000 for six months' rent. Alija recorded the transaction as a debit to 'Cash' and a credit to 'Revenue' on 1 May 2022. Prepare the original journal entries and the adjusting entries as of 30 June 2022.
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