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Determine amount of expense each company should recognize

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Reference no: EM133170095

Question - For each of the following separate situations, determine the amount of expense each company should recognize in December (using accrual bass accounting).

a. Chipotle has monthly wages expense of $3,800 that has been incurred but not paid as of December 31.

b. United Airlines purchases a 24-month insurance policy for $57,000 on December 1 for immediate coverage.

c. On December 15, Pfizer prepays $26,000 for hotel rooms for its annual sales meeting in January.

Reference no: EM133170095

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