How should the following Adjusted Entries be inputted into the General Journal? An end...
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Accounting
How should the following Adjusted Entries be inputted into the General Journal?
An end of year analysis of its insurance policies shows that the balance still prepaid on December 31, 20X5 should be $2,000. An end of year analysis of its rental agreements (as a lessee) shows that the balance still prepaid on December 31, 20X5 should be $4,000. Depreciation expense on the buildings is $35,000 for the year. Note: Wolfpack has separate depreciation expense and accumulated depreciation accounts for its buildings and equipment. See the chart of accounts. Depreciation expense on the equipment is $20,000 for the year
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