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Exercise 315(Algo) Anolyzing and preparing adjusting entries LO P5 Following are two income...

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Accounting

Exercise 315(Algo) Anolyzing and preparing adjusting entries LO P5
Following are two income statements for Alexis Company for the year ended December 31. The left number column is prepared before
adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and
payments related to uneamed and prepaid tiems in balance sheet accounts.
Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint The entry for a. refers to
revenue that has been earned but not yet billed. No adjusting entry involves cash.
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