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Required information [ The following information applies to the questions displayed below. ] The following are transactions for the Sky Blue Corporation: a . Collected
Required information The following information applies to the questions displayed below. The following are transactions for the Sky Blue Corporation: a Collected $ rent for the period October to December which was credited to Deferred Revenue on October b Paid $ for a twoyear insurance premium on October and debited Prepaid Insurance for that amount. c Used a machine purchased on October for $ The company estimates annual depreciation of $ Required: For each of the above transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at he end of the month on October Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.
Required information
The following information applies to the questions displayed below.
The following are transactions for the Sky Blue Corporation:
a Collected $ rent for the period October to December which was credited to Deferred Revenue on October
b Paid $ for a twoyear insurance premium on October and debited Prepaid Insurance for that amount.
c Used a machine purchased on October for $ The company estimates annual depreciation of $
Required:
For each of the above transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at
he end of the month on October Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.
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