Balance of Prepaid Expenses Account Assignment
2 Eva Alvarado: Attempt 1 question 4 points) Saveo The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 3/31 Accounts Debit Credit Cash $27,500 Prepaid Expenses 2,800 Accounts Payable $15,000 Office Rent Expense 1,200 Machine Rent Expense 1,400 Bravo pays office rent at the beginning of each month of occupancy.
The beginning balance of Prepaid Expenses account on March 1, 2016, was $700 and was for one month of machine rent. Machine rent is paid in advance at the end of each quarter. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write “No Entry Required.” Format B T V General Journal Debit Credit Accounts. .