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Prepare adjusting journal entries for the year ended

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The Prepaid Rent account had a $5,400 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of rental policies showed that $3,530 of rental coverage had expired.

Problem 1: Prepare adjusting journal entries for the year ended (date of) December 31 for each of these separate situations.

Reference no: EM132756676

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