d. In late October, Faraday agreed to become the sponsor for the sports segment of...
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Accounting
d In late October, Faraday agreed to become the sponsor for the sports segment of the evening news program on a local television The station billed Faraday $ for months' sponsorshipNovember December and January in advance. these payments were made, Faraday debited prepaid advertising. At December months' advertising has been used and remains unused.
Required:
Prepare adjusting entries at December for these four activities.
Dec.
Prepaid Insurance
Record use of prepaid insurance
Dec. Utilities Expense
Record use of utilities
Dec.
Rent Payable
Record use of equipment
Dec.
Record use of prepaid advertising
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