1800 prepaid insurance 1800 e inventory p102600

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1,800 Prepaid Insurance .................... 1,800 (e) Inventory (P102,600 - P99,700) ......... 2,900 Cost of Goods Sold ................... 2,900 (f) Depreciation Expense--Equipment ........ 15,000 Accumulated Depreciation--Equipment... 15,000 (g) Unearned Revenue (P72,000 5/12) ...... 30,000
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Rental Revenue ....................... 30,000 65. (1) Insurance: 2009 June 15 Prepaid Insurance .......... 5,400 Cash ..................... 5,400 Oct. 31 Insurance Expense (P5,400 4/12) ........... 1,800 Prepaid Insurance ........ 1,800 Equipment rental: Oct. 1 Cash ....................... 6,930 Unearned Rent Revenue .... 6,930 Oct. 31 Unearned Rent Revenue (P6,930 1/9) ............ 770 Rent Revenue ............. 770 (2) Insurance: 2009 June 15 Insurance Expense .......... 5,400 Cash ..................... 5,400 Oct. 31 Prepaid Insurance (P5,400 8/12) ........... 3,600 Insurance Expense ........ 3,600 Equipment rental: Oct. 1 Cash ....................... 6,930 Rent Revenue ............. 6,930 Oct. 31 Rent Revenue (P6,930 8/9) 6,160 Unearned Rent Revenue .... 6,160 66. (a) Cash ................................. 1,000 Accounts Receivable ............... 7,000 Sales .......................... 8,000 Cost of Goods Sold ............. 4,500 Inventory ................... 4,500 (b) Land ................................. 60,000 Building ............................. 340,000 Cash .............................. 100,000 Mortgage Payable .................. 300,000 (c) Cash ................................. 12,000 Accounts Receivable ............... 12,000 (d) No entry ............................. (e) Dividends (or Retained Earnings) ..... 13,500 Dividends Payable ................. 13,500 67.
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(a) Write-off of an uncollectible account. (b) Cash payment on a note payable. Part of the payment is for principal and part is for interest. (c) Received cash in advance for products or services not yet delivered. (d) Adjusting entry to record supplies on hand. (e) Received customer payment on account. 68. (a) P200,000 - P7,600 = P192,400 (b) P110,000 - P4,500 - P2,400 = P103,100 (c) P25,000 - P1,350 = P23,650 (d) P40,000 + P670 = P40,670
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