module two quiz
June 29, 2020
How could you deal with these gaps and overlaps to help clients receive needed services?
June 29, 2020

At Natasha Company, prepayments are debited to expense when paid, and unearned revenues are credited to revenue when received. During January of the current year, the following transactions occurred.
Jan. 2 Paid $1,800 for fire insurance protection for the year.
10 Paid $1,700 for supplies.
15 Received $6,100 for services to be performed in the future.
On January 31, it is determined that $2,500 of the services fees have been earned and that there are $800 of supplies on hand.
(a) Journalize and post the January transactions. (Use T accounts.)
(b) Journalize and post the adjusting entries at January 31.
(c) Determine the ending balance in each of the accounts.


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At Natasha Company, prepayments are debited to expense when paid 3 answers below » was first posted on June 29, 2020 at 8:06 am.
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