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Make all adjusting entries that are required at December

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Reference no: EM132619636

Question - The information shown below relates to Dalgleish Corporation. At December 31, 2019 the Dalgleish general ledger shows the following balances:

Prepaid lease $7,000 Debit

Prepaid insurance $1,200 Debit

Unearned revenue $84,000 Credit

In addition, the following information is available:

1. The entire amount shown as prepaid lease has expired.

2. One-third of the amount shown as prepaid insurance has expired.

3. Half of the amount shown as unearned revenue has now been earned.

Instructions - Make all adjusting entries that are required at December 31, 2019?

Reference no: EM132619636

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