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The following information concerns the adjusting entries to be recorded on November 30, 2020, for the Reggae Mania's year just ended. a. The Office Supplies

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The following information concerns the adjusting entries to be recorded on November 30, 2020, for the Reggae Mania's year just ended. a. The Office Supplies account started the year with a $6,000 balance. During 2020, the company purchased supplies at a cost of $25,000. The inventory of the supplies on at November 30 had a cost of $15,000. b. The company had expired insurance of $22,000 c. The company purchased a building on July 1, 2020. The building costs $310,000 and is expected to be sold for $10,000 at the end of its predicted 20 years. d. The company has 20 employees who earn a total of $30,000 in salaries for every working day. They are paid each Wednesday for their work in the five-day workweek ending on the preceding Friday. All 20 employees worked November 23 to 27 inclusive. They will be paid salaries for five full days on Wednesday, December 2, 2020 Some of the building is rented out to Mr. Josef Greenling for $3,000 per month starting on October 1, 2020. The rent was paid on time on October 1" Mr. Greenling has not paid for the November rent. He has promised to pay both November's and December's Tents in full on December 15. f On October 1, the company rented another space to Ms. Bailey Drewly for $5,000 per month. She paid five months' rent in advance on that date. Use the information to prepare the annual adjusting entries as of November 30, 2020. Then prepare subsequent entries in December described in parts (d) and (e). Worth 11.75 marks

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