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Spruce Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2024: 1. Purchased a one-year insurance
Spruce Quest Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2024: 1. Purchased a one-year insurance policy on June 1 for $1,680 cash. 2. Paid $6,150 on August 31 for five months' rent in advance. 3. On September 4, received $2,970 cash in advance from a corporation to sponsor a game each month for a total of nine months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1, for $930 per month. Paid for the first two months on November 30. (Hint: Use the account Prepaid Cleaning to record this prepayment.) 5. On December 5, received $1,400 in advance from a
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