Prepayment of Expenses JDM Inc. made the following prepayments for expense items during the year:...
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Accounting
Prepayment of Expenses
JDM Inc. made the following prepayments for expense items during the year:
Prepaid building rent for year on April by paying $ Prepaid rent was debited for the amount paid.
Prepaid months' insurance on October by paying $ Prepaid insurance was debited.
Purchased $ of office supplies on October debiting supplies for the full amount. There were no office supplies on hand as of October Office supplies costing $ remain unused at December
Paid $ for a month service contract for repairs and maintenance on a computer. The contract begins November The full amount of the payment was debited to prepaid repairs and maintenance.
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