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Accounting
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The following are transactions for the Sky Blue Corporation:
Collected $ rent for the period October to December which was credited to Deferred Revenue on October
Paid $ for a twoyear insurance premium on October and debited Prepaid Insurance for that amount.
Used a machine purchased on October for $ The company estimates annual depreciation of $
Required:
For each of the above transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.
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