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Triple-A Accounting services agreed to preform services for a client at rate of $2000 per month. A six month prepayment was made in advance on
Triple-A Accounting services agreed to preform services for a client at rate of $2000 per month. A six month prepayment was made in advance on October 1, 2016 and services began on that date .December 31,2016 is the end of Triple-A accounting year. what is the October 1, 2016 entry to record the prepayment? 2 what is the entry to make the necessary adjustment on December ,31, 1016 ? (Triple-adjusts their books only at the end of the year)
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