Journalizing the alternative treatment of deferred expenses

Reference no: EM131814813

Question: Journalizing the alternative treatment of deferred expenses On August 1, 2016, Blue Design paid $66,000 for store rent covering the 12-month period ending July 31, 2017.

Requirements

1. Journalize the entry on August 1 by using the alternative treatment of deferred expenses.

2. Record the December 31, 2016 adjusting entry.

Reference no: EM131814813

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