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7) Prepare journal entries (in good form) for the following transactions. Please help with question 7

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e. Prepaid Insurance k. Depreciation Expense, Buildings f. Notes Payable 7. Prepare journal entries (in good form) for the following transactions. If no entry is required, write "no entry." Apr. 1 Investors opened a dry cleaning service, called Same Day Cleaners, by depositing $60,000 into a business bank account and receiving 60,000 shares of $1 par value stock in exchange. 3 Paid two years' rent in advance, $14,400. 6 Purchased dry cleaning equipment for $40,000. Paid $8,000 in cash, the remainder to be paid in two weeks. 9 Hired a part-time worker, to be paid $300 per week, starting tomorrow 17 Paid the worker's weekly wage. 17 Recorded cash received for services performed during the week, $3,000. 20 Paid for the remainder of the equipment purchased on April 6. 21 Received $200 in advance of cleaning and boxing a wedding gown. 23 Performed $500 of dry cleaning services for Asa's Tuxedo Shop. It wil remit payment in three days. 24 Paid the weekly wages. 26 Received payment from Asa's Tuxedo Shop. 30 Received a telephone bill for $100, which will be paid in two weeks. 8. State whether each situation is a deferral or an accrual. Part A: ords English (US)

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