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Accounting Cycle Exercises III 
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Following are three separate transactions that pertain to prepaid items. Evaluate each item and prepare the journal entries that would be needed for the initial recording and subsequent end-of-20X3 adjusting entry. Assume the company uses the balance sheet approach, and the initial recording is to an asset account. The company has a calendar year-end and does not make any adjusting entries prior to December 31.
Larry M. Walther - Personal Name
1st Edtion
978-87-7681-630-8
NONE
Accounting Cycle Exercises III

Management
English
2010
1-34
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