Business, 21.05.2020 20:57, KennyMckormic

1. Prepaid rent for one year on January 1, 2019, in the amount of $26,400. Record the adjustment on January 31, 2019. 2. Purchased supplies for $1,600 on January 1, 2019. The inventory of supplies was $400 on January 31, 2019. Record the adjustment for the amount of the supplies that were used during the month of January 2019. Depreciation is computed using the straight-line method. 3. Equipment purchased on January 1, 2019, for $36,000 has an estimated useful life of 6 years with no salvage value. Record the adjustment on January 31, 2019. 4. Signed a 12-month contract for $3,000 of prepaid advertising on January 1, 2019. Record the adjustment for the amount of the advertising contract that expired during the month of January 2019.

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1. Prepaid rent for one year on January 1, 2019, in the amount of $26,400. Record the adjustment on...