Business
Business, 22.10.2019 21:50, lizzy2951

At year-end, the following additional information is available: 1. the balance of prepaid rent, $6,600, represents payment on october 31, 2021, for rent from november 1, 2021, to april 30, 2022. 2. the balance of deferred revenue, $2,500, represents payment in advance from a customer. by the end of the year, $625 of the services have been provided. 3. an additional $500 in salaries is owed to employees at the end of the year but will not be paid until january 4, 2022. 4. the balance of supplies, $3,500, represents the amount of office supplies on hand at the beginning of the year of $1,450 plus an additional $2,050 purchased throughout 2021. by the end of 2021, only $750 of supplies remains. required: 1. update account balances for the year-end information by recording any necessary adjusting entries. no prior adjustments have been made in 2021. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations.)

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At year-end, the following additional information is available: 1. the balance of prepaid rent, $6,...

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