BE 2.05 – Prepare the necessary adjusting entries


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Difficulty – Medium

Create the necessary adjusting entries at December 31 for each of the 3 items: fire insurance policy, advanced payment to the chief officer with a not due in one year, and equipment purchased for cash given an annual depreciation amount.

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  • Search Terms: "no $, $,; % () (if , : a above account adjusting advanced and are at beginning cash. chief company costing december depreciation due each entries entry equipment field.) financial fire first fiscal for has in insurance interest is items. its journal june necessary no note october of officer on one one-year paid per policy; principal purchased required required" select the transaction/event, was year year-end year. prepare year;
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