Record the rent revenue earned during october

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Reference no: EM131810272

For each of the following transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 31.

(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Collected $2, 700 rent for the period October 1 to December 31. which was credited to Unearned Revenue on October 1.

Paid $1, 440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount.

Used a machine purchased on October 1 for $49, 200.

The company estimates annual depreciation of $4, 920.

Record the rent revenue earned during October.

Record the insurance expense for October.

Record the depreciation for the month of October.

Reference no: EM131810272

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