Business, 21.12.2019 04:31 roseemariehunter12
Consider the following situations for shocker:
a. on november 28, 2018, shocker receives a $4,500 payment from a customer for services to be rendered evenly over
the next three months. deferred revenue is credited.
b. on december 1, 2018, the company pays a local radio station $2,700 for 30 radio ads that were to be aired, 10 per month, throughout december, january, and february. prepaid advertising is debited.
c. employee salaries for the month of december totaling $8,000 will be paid on january 7, 2019.
d. on august 31, 2018, shocker borrows $70,000 from a local bank. a note is signed with principal and 9% interest to be
paid on august 31, 2019.
required:
record the necessary adjusting entries for shocker at december 31, 2018. no adjusting entries were made during the year
Answers: 2
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Consider the following situations for shocker:
a. on november 28, 2018, shocker receives a $4...
a. on november 28, 2018, shocker receives a $4...
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