Questions

John co. Wishes to enter receipts and payments in such manner that adjustments at end of the period will not require reversing entries at the beginning of the next period. Record the following transactions that indicated manner and give the assisting enry on December 31, 2017.

question is Two entries for each part

1 an insurance police for two years was acquired on April 1/2017 for $18360

2 rent of $12900 for six months for portion of building was received on November 1/2017