RENT- ME INCORPORATED On December 1, Year 1, Jack and Diane Jones formed a corporation Rent-Me Incorporated. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Cabot Trail Rentals, an equipment rental company that was going out of business. The newly formed company uses the following accounts. Cash Accounts Receivable Prepaid Rent Prepaid Insurance Office Supplies Rental Equipment Accumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Salaries Payable Dividends Pavable Unearned Rental Fees (Liability) Income Taxes Payable Contributed Capital Retained Earnings Dividends Rental Fees Earned (Revenue) Office Supplies Expense Salaries Expense Maintenance Expense Utilities Expense Rent Expense Depreciation Expense Interest Expense Income Taxes Expense RENT- ME INCORPORATED On December 1, Year 1, Jack and Diane Jones formed a corporation Rent-Me Incorporated. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Cabot Trail Rentals, an equipment rental company that was going out of business. The newly formed company uses the following accounts. Cash Accounts Receivable Prepaid Rent Prepaid Insurance Office Supplies Rental Equipment Accumulated Depreciation: Rental Equipment Notes Payable Accounts Payable Interest Payable Salaries Payable Dividends Pavable Unearned Rental Fees (Liability) Income Taxes Payable Contributed Capital Retained Earnings Dividends Rental Fees Earned (Revenue) Office Supplies Expense Salaries Expense Maintenance Expense Utilities Expense Rent Expense Depreciation Expense Interest Expense Income Taxes Expense