x Company prepares monthly financial statements. The following transactions occurred during January: 1. On January...
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x Company prepares monthly financial statements. The following transactions occurred during January: 1. On January 1, a one-year store rental lease was signed for a total of $36,000, and rent for the first 4 months was paid in advance 2. on January 1, equipment was purchased for $50,000 with a do npayment of $10,000 and a for the remainder. Th. note along with annual interest of 0% as due in a year. The estimated life of the equipment is 10 years with a salvage value of $4,00o. 3. Daily wages are $1,500 and are paid every Friday. The last day in January was a Monday 8. The required adjusting entries on January 31 decreased net income by a total of Submit Answer Tries ubmt Answer Tries 03 9. The required adjusting entries on January 31 decreased total assets by a total of Submit Answer Tries 03
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