Melissa Carmeanbrsh oger o118. On November 1 of the current year, Salinger Company paid $9,600 cash for a one-year insurance policythat took effect on that day. On the date of the payment, Salinger recorded the following entry:Nov. 01Prepaid Insurance9,600Cash9,600Prepare the required adjusting entry at December 31 of the current year.bioc ton19. Abdulla Co. collected 6-months' rent in advance from a tenant on October 1 of the current year. When itcollected the cash, it recorded the following entry:October 01Cash15,000Unearned Rent Revenue15,000Prepare the required adjusting entry at December 31 of the current year.

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Asked Oct 8, 2019
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Melissa Carmean
brs
h oger o1
18. On November 1 of the current year, Salinger Company paid $9,600 cash for a one-year insurance policy
that took effect on that day. On the date of the payment, Salinger recorded the following entry:
Nov. 01
Prepaid Insurance
9,600
Cash
9,600
Prepare the required adjusting entry at December 31 of the current year.
bioc ton
19. Abdulla Co. collected 6-months' rent in advance from a tenant on October 1 of the current year. When it
collected the cash, it recorded the following entry:
October 01
Cash
15,000
Unearned Rent Revenue
15,000
Prepare the required adjusting entry at December 31 of the current year.
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Melissa Carmean brs h oger o1 18. On November 1 of the current year, Salinger Company paid $9,600 cash for a one-year insurance policy that took effect on that day. On the date of the payment, Salinger recorded the following entry: Nov. 01 Prepaid Insurance 9,600 Cash 9,600 Prepare the required adjusting entry at December 31 of the current year. bioc ton 19. Abdulla Co. collected 6-months' rent in advance from a tenant on October 1 of the current year. When it collected the cash, it recorded the following entry: October 01 Cash 15,000 Unearned Rent Revenue 15,000 Prepare the required adjusting entry at December 31 of the current year.

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Expert Answer

Step 1

 $1600 is calculated by multiplying ...

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Total amount paidx Prepaid insurance belongs to the current vearRemaining months in the current year 12 2 = $9,600 x- 12 -$1,600

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