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year ended on june 30 complete all for requiement 2 please 1. Identify each of the following transactions as accrued revenue, accrued expense, deferred revenue,
year ended on june 30 complete all for requiement 2 please
1. Identify each of the following transactions as accrued revenue, accrued expense, deferred revenue, or deferred expense. 2. Record the adjusting entry for each transaction. Transactions a. The Uneamed Revenue account showed a balance of $2,800, which represented seven gift certificates of $400 sold in June. Two gift certificates had been redeemed in June. b. The Prepaid Rent account showed a balance of $3,600, which represented four months' rent paid on April 1. c. An exercisga machine was purchased on March 1 for $11,260. Revival Wellness rostimated that the machine could last thirteen years, with a salvage value of $340 at the end of the thirteenth year. d. Three employees each earned $100 per day. Salary for the last seven days of June would be paid on July 2. e. A fitness service was performed for a business client on June 30 for $360. The invoice was sent on July 5 , after the year-end date Step by Step Solution
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