It is 12/31/1X the end of the fiscal year for JayCO which is a sole...
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Accounting
It is 12/31/1X the end of the fiscal year for JayCO which is a sole proprietorship. Required 16 pts: From the information below make all the required adjusting entries needed to bring the accounting system up to date. A. Depreciation for the year for equipment was calculated to be $68,000. No entry has been made for this amount. DATE ACCOUNT DR CR 12/31 4 B. On 9/1/X1 the company had entered into a one-year contract to machine and provide 50,000 parts to a small manufacturing company for their product. The total contract was for $1,300,000 and required a prepayment to be made to JayCO in the amount of $150,000. The prepayment was made on 9/1/X1 and the
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