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question e xercise 3 16 company has the following balances in selected accounts on d 4280239

Question

E xercise 3-16 Company has the following balances in selected accounts on December 31, 2017 Service Revenue Insurance Expense Supplies Expense $41,000 ,904 ,200 Al the accounts have normal balances. Zac Brown Company received. The following information below has been gathered at December 31, 2017 debits prepayments to expense accounts when paid, and credits unearned revenues to revenue accounts wher 1. Zac Brown Company paid $2,904 for 12 months of insurance coverage on June 1, 2017. 2. On December 1, 2017, Zac Brown Company collected $41,000 for consulting services to be performed from December 1,2017, through March 31, 2018 3. A count of supplies on December 31, 2017, indicates that suppies of s800 are on hand Prepare the adjusting entries needed at December 31, 2017. (Credit accoovat titles are automatically indented when the amount is entered. Do not indent manual No. Date Account Titles and Explanation 2. Dec. 31L Service R . Dec. 31 Home End er 6 7 8 9 0 5

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