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Surasta Quest Cunter achasts ibs accisuints annuaty Assume that any prepaid experses are initially recorded in asset accounts. Asurwe that aiy revernan collected in attance
Surasta Quest Cunter achasts ibs accisuints annuaty Assume that any prepaid experses are initially recorded in asset accounts. Asurwe that aiy revernan collected in attance in initially recorded as fiabilities, The following inforitation is avaitable for the year anded December 31 , toe24: 1. A \$3.960one year insurance policy wen purchased on April 1. 2024. 2. Paid $5,750 on Alginst 31. 2024 for five monthe' tent in advance. 3. On Septenber 27, 2024, received 53.750 cash from a corporation that sponsors games for the most itnpecoved students attending a nesirby school. The $3.750 was for 10 games, worth $975 each, that are played on the first Friday of each month. starting in October (Use the Unearned Revenue account.) 4. Signed a contract for cleaniry services starting December 1,2024, for 5550 per month. Paid for the furst three months on Nowember 30.2024, (Use Oifice Experse for the adjusting ontry.) of these gitt certificates had not yet been redeemed, (Use the account Unearned Revenue) (13) For each trarsactions prepure the journal entry to record the initial transaction. (Credit occount titles are outamaticolly indented when ancuant is entered De nat indent monuoly if no entry is required, select "No Entry" for the account titles and enter 0 for the amountr. List all detit entries betwere credt entries)
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