70.2K

Verified Solution

Link Copied!

Journal entry worksheet The Krug Company collected $9,600 rent in advance on November 1 , debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. Note: Enter debits before credits. QS 3-10 (Algo) Unearned (deferred) revenues adjustments LO P2 Record adjusting joumal entries for each separate case below for year ended December 31. Assume no other adjusting entries aro made during the year: a. Unearned Rent Revenue. The Krug Company collected $9,600 rent in advance on November 1, debiting Cash and crediting Uneamed Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began on November 1 b. Unearned Services Revenue. The company charges $105 per insect treatment. A customer paid $420 on October 1 in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At year-end, the company has applied three treatments for the customer. c. Unearned Rent Revenue. On September 1, a client paid the company $31,200 cash for six months of rent in advance and took occupancy immediately. The compony recorded the cash as Unearned Rent Revenue. Journal entry worksheet The Krug Company collected $9,600 rent in advance on November 1 , debiting Cash and crediting Unearned Rent Pevenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. Notes Enter debits before credts On September 1 , a client paid the company $31,200 cash for six months of rent in advance and took occupancy immediately. The company recorded the cash as Unearned Rent Revenue. Note: Enter debits before credits. Journal entry worksheet The company charges $105 per insect treatment. A customer paid $420 on October 1 in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At year-end, the company has applied three treatments for the customer. Note: Enter debits before credits

Answer & Explanation Solved by verified expert

See Answer