$700. December 31 is a Tuesday. Employees do not work weekends. All employees workedthe last 2 days of December.(b) Unearned Rent Revenue $60,000: The company had several lease contracts during the yearas shown below:*DateOct. 1Dec. 1Term(in months)1212Total Rentperlease$ 8,00018,000Number ofleases32(c) Notes Receivable $90,000: This is a 6-month note, dated November 1, 2022, with a 6%interest rate.eo for theInstructions:Prepare the adjusting entries at December 31, 2022. Show all computations.

Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…

(b) Unearned Rent Revenue $60,000: The company had several lease contracts during the year as shown below: * Date Oct. 1 Dec. 1 Term (in months) Instructions: 12 12 Total Rent per lease $ 8,000 18,000 Number of leases 3 2 (c) Notes Receivable $90,000: This is a 6-month note, dated November 1, 2022, with a 6% interest rate. de for the following Prepare the adjusting entries at December 31, 2022. Show all computations.

(b) Unearned Rent Revenue $60,000: The company had several lease contracts during the year as shown below: * Date Oct. 1 Dec. 1 Term (in months) Instructions: 12 12 Total Rent per lease $ 8,000 18,000 Number of leases 3 2 (c) Notes Receivable $90,000: This is a 6-month note, dated November 1, 2022, with a 6% interest rate. de for the following Prepare the adjusting entries at December 31, 2022. Show all computations.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 45BE

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