For each of the following transactions a through c for Catena's Marketing Company, prepare the adjusting entry at the
end of the current year, December The process includes determining if revenue was earned or an expense was
incurred and determining whether cash was received or paid in the past or will be received or paid in the future.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
a Collected $ rent for the period December of the current year to April of next year, which was credited to
Unearned Rent Revenue on December
b Purchased a machine for $ cash on January The company estimates annual depreciation at $
c Paid $ for a twoyear insurance premium on July of the current year; debited Prepaid Insurance for that
amount.
Journal entry worksheet
Prepare the adjusting entry needed at December
Collected $ rent for the period December of the
current year to April of next year, which was credited
to Unearned Rent Revenue on December
Note: Enter debits before credits.
