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The information shown below relates to Florista Corporation. At December 31, 2019 Florista's general ledger shows the following balances: Prepaid lease $6,000 Debit Prepaid insurance
The information shown below relates to Florista Corporation. At December 31, 2019 Florista's general ledger shows the following balances: Prepaid lease $6,000 Debit Prepaid insurance $900 Debit Unearned revenue $78,000 Credit In addition, the following information is available: 1. The entire amount shown as prepaid lease has expired. 2. One third of the amount shown as prepaid insurance has expired. 3. Half of the amount shown as unearned revenue has now been earned. Required Prepare all adjusting entries that are required at December 31, 2019
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