In trading account freight belongs to which side debit or credit?

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. this reflects the concept.

Much of the demand for u.s. agricultural output has come from other countries. in 1998, the total demand for wheat was qequals3 comma 244minus283p. of this, total domestic demand was upper q subscript upper dequals1700minus107p, and domestic supply was upper q subscript upper sequals1 comma 944plus207p. suppose the export demand for wheat falls by 40 percent. u.s. farmers are concerned about this drop in export demand. what happens to the free-market price of wheat in the united states? the free-market price of wheat in the united states after the drop in export demand is $ nothing. (enter your response rounded to two decimal places.)