149. The company determines that the interest expense on a note payable for period ending December 31st is $775. This amount is payable on January 1st. Prepare the journal entries required on December 31st and January 1st.
150. On January 2nd, Dog Mart prepaid $15,000 rent for the year and recorded the prepayment in an asset account. Prepare the January 31st adjusting entry for rent expense.
151. The prepaid insurance account had a beginning balance of $6,600 and was debited for $2,300 of premiums paid during the year. Journalize the adjusting entry required at the end of the year assuming the amount of unexpired insurance related to future periods is $4,100.
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