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a. Paid $6,400 cash in advance on April 1 for a one-year insurance policy. b. Received...


a. Paid $6,400 cash in advance on April 1 for a one-year insurance policy. b. Received a $14,700 cash advance for a contract
a. Paid $6,400 cash in advance on April 1 for a one-year insurance policy. b. Received a $14,700 cash advance for a contract to provide services in the future. The contract required a one-year commitment, starting September 1. C. Purchased $1,800 of supplies on account. At year's end, $140 of supplies remained on hand. d. Pald $5,400 cash in advance on March 1 for a one-year lease on office space. Event Adjustment The Accounting Equation Total Assets Cash Other Liabilities Assets (6.400) 6,400 (4.800) - Stockholders' Equity Common Retained Stock Earnings (4.800) a. Adi b b. Adi . c. Adi d
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