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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 9
On February 1, Watson Storage agreed to rent Hillbourne Manufacturing warehouse space for $300 per month.illbourne Manufacturing paid the first three months' rent in advance.
a.repare the necessary adjusting entry for Hillbourne Manufacturing on February 28, assuming it recorded the expenditure on February 1 as Prepaid Rent.
b.repare the necessary adjusting entry for Watson Storage on February 28, assuming it recorded Hillbourne Manufacturing's payment as Unearned Rent Revenue.
a.repare the necessary adjusting entry for Hillbourne Manufacturing on February 28, assuming it recorded the expenditure on February 1 as Prepaid Rent.
b.repare the necessary adjusting entry for Watson Storage on February 28, assuming it recorded Hillbourne Manufacturing's payment as Unearned Rent Revenue.
Explanation
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Adjusting entries:
Adjusting entries ar...
Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
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