Homework: Week 3- Chapter 03 problems Score: 0 of 1 pt PA-44B (similar to) Sav 5

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Homework: Week 3- Chapter 03 problems Score: 0 of 1 pt PA-44B (similar to) Sav 5 of 5 (2 complete) HW Score: 21.82%, 1.09 of 5 Question Help Care Mail Pack'n Mail completed the following transactions during 2016 (Click the icon to view the transactions) Read the requirements Requirement 1. Journalize the transactions assuming that Care Mail debits an asset account for prepaid expenses and credits a liability account for unearned revenues. (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Nov. 1: Paid $5,200 store rent covering the four-month period ending February 28, 2017 Date Accounts and Explanation Debit Credit Nov. 1

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Journal Entries Date Particulars Debit Credit 1-Nov Prepaid rent Dr $5,200.00        To Cash $5,200.00 (To record payment of rent) 1-Nov Prepaid insurance Dr $7,500.00        To Cash $7,500.00 (To record payment of insurance) 1-Dec Cash Dr $10,800.00        To Unearned revenue $10,800.00 (Being advance received from customer) 1-Dec Cash Dr $3,900.00        To Unearned revenue $3,900.00 (Being advance received from customer)

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