Solve Chegg Question
Solve Chegg Question
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For each of the above transactions, prepare the adjusting journal entry that is required on December 31. (Hint: Use the account Service Revenue for item 3 and Maintenance and Repairs Expense for item 4.) (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
| No. | Date | Account Titles and Explanation | Debit | Credit |
| 1. | Dec. 31, 2017 | enter an account title to record the first transaction | enter a debit amount | enter a credit amount |
| enter an account title to record the first transaction | enter a debit amount | enter a credit amount | ||
| 2. | Dec. 31, 2017 | enter an account title to record the second transaction | enter a debit amount | enter a credit amount |
| enter an account title to record the second transaction | enter a debit amount | enter a credit amount | ||
| 3. | Dec. 31, 2017 | enter an account title to record the third transaction | enter a debit amount | enter a credit amount |
| enter an account title to record the third transaction | enter a debit amount | enter a credit amount | ||
| 4. | Dec. 31, 2017 | enter an account title to record the fourth transaction | enter a debit amount | enter a credit amount |
| enter an account title to record the fourth transaction | enter a debit amount | enter a credit amount | ||
| 5. | Dec. 31, 2017 | enter an account title to record the fifth transaction | enter a debit amount | enter a credit amount |
| enter an account title to record the fifth transaction | enter a debit amount | enter a credit amount |
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Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) (Round answers to 0 decimal places, e.g. 5,275. Post entries in the order displayed in the problem statement.)
| Prepaid Insurance | |||
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Prepaid Rent | |||
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Unearned Service Revenue | |||
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Prepaid Cleaning | |||
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Insurance Expense | |||
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Rent Expense | |||
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Service Revenue | |||
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose a transaction date | enter a debit amount | choose a transaction date | enter a credit amount |
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
| Maintenance and Repairs Expense | |||
| choose the end date of the accounting period | enter a debit balance | choose the end date of the accounting period | enter a credit balance |
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