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Thank you so much for helping me with this. The question is in the first two images. If you could please fill in the red
Thank you so much for helping me with this. The question is in the first two images. If you could please fill in the red blanks, I would appreciate it greatly.
Blossom Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31,2022. 1. Purchased a 1-year insurance policy on June 1 for $2,520 cash. 2. Paid $7,670 on August 31 for 5 months' rent in advance. 3. On September 4, received $4,320 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. 4. Signed a contract for cleaning services starting December 1 for $1,180 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,770 in advance from a gaming club. Determined that on December 31,$560 of these games had not yet been played. Post the iournal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to splayed in the problem Prepaid Cleaning Nov. 30 1680 Dec. 31Adj.V 840 Insurance Expense Rent Expense Service Revenue Maintenance and Repairs ExpenseStep by Step Solution
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