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The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a .
The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months.
a The December inventory count of computer supplies shows $ still available.
b Three months have expired since the month insurance premium was paid in advance.
c As of December Lyn Addie has not been paid for four days of work at $ per day.
d The computer system, acquired on October is expected to have a fouryear life with no salvage value.
e The office equipment, acquired on October is expected to have a fiveyear life with no salvage value.
f Three of the four months' prepaid rent have expired.
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