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On August 1, Windsor, Inc. paid $12,960 in advance for two years' membership in a global technology

association.


Prepare Windsor's August 1 journal entry and the annual adjusting entry on December 31. Prepare journal entries, treating the initial August 1 expenditure as an asset. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

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1. Global Technology Association Membership A/c $ 12,960 To... View the full answer

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