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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 $4,500 rent for

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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 $4,500 rent for the period October 1 to December 31 , which was credited to Deferred Revenue on October 1 . b. Paid $2,880 for a two-year insurance premium on October 1 and debited Prepaid insurance for that amount. c. Used a machine purchased on October 1 for $56,400. The company estimates annual depreciation of $5,640. Required: For each of the above transactions for the Sky Blue Corporation, gve the accounting equation effects of the odjustments required at the end of the month on October 31. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Journal entry worksheet Record the rent revenue earned during October. Note: Enter debits before credits. Journal entry worksheet Record the insurance expense for October. Note: Enter debits before credits. Journal entry worksheet Record the depreciation for the month of October. Note: Enter debits before credits

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