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This is BBM205/05 Business Accounting I subject Question 5 The Trial Balance of...

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Accounting

This is BBM205/05 Business Accounting I subject

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Question 5 The Trial Balance of Deco Enterprise as at 31 December 2019 shows the following: RM RM 25,600 12,100 Incentive Received Interest Paid Rental Received Insurance 91,000 2,400 The financial year for Deco Enterprise ends on 31 December every year. Below is the additional information as at 31 December 2019: Incentive receivable is RM7,560 ii. Interest incurred for the financial year is RM13,450 iii. Rental received per annum should be RM84,000 iv. Insurance was paid for the period from October 2019 to September 2020 i. a. Required: Adjusting journal entries to account for the additional information above. (8 marks) b. Update the above accounts accordingly. (12 marks)

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