Question
Willow Window Washing Services prepares adjustments monthly and shows the following selected accounts on its December 31, 2023, unadjusted trial balance: Account Debit Credit Prepaid
Willow Window Washing Services prepares adjustments monthly and shows the following selected accounts on its December 31, 2023, unadjusted trial balance: Account Debit Credit Prepaid insurance $ 3,450 Prepaid office rent 18,500 Prepaid subscriptions 1,210 Prepaid equipment rental 23,800 Required: Prepare the required monthly adjusting entries at December 31, 2023, based on the following additional information: The remaining balance in Prepaid Insurance was for a six-month insurance policy purchased for $6,900 and in effect on September 1, 2023. $4,300 of the balance in Prepaid Office Rent had not been used as at December 31, 2023. $1,050 of the balance in Prepaid Subscriptions had been used as at December 31, 2023. The company paid $30,600 on April 1, 2023, to rent equipment for a three-year period beginning April 1, 2023.
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