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  1. business
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  3. for each of the following unrelated situations, de

For each of the following unrelated situations, determine the financial statement effect using the Transaction...

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Accounting

For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template:
b. An estimated utilities expense of $545 has been incurred in the current month, but the utility bill has not been received.
c. On the first day of the current month, payment was made for four months rent in advance in the amount of $8,000.
Monthly statements are now being prepared for the current month end.
d. Taylor Medical Equipment provides medical equipment for rent. A local nursing home pays $3,600 in advance for a three-month rental of hospital beds. At the end of the current period, one month has passed.
Note: Use negative signs with answers, when appropriate.

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