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Record Star Corporation required adjusting journal entries

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Reference no: EM132957214

Question - Record for Star Corporation the required adjusting journal entries on December 31, 2020 for the below transactions. 

A. On Jan 1, 2020, purchased a van for $68,000. The machine will have a useful life of 8 years.

B .On Sept 1, 2020, collected $1,800 as advance from a customer for services it will provide over the next 6 months.

C. On Jun 1, 2020, paid $54,000 for a one year insurance policy.

Reference no: EM132957214

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