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Mogilny corporation owns a warehouse on november 1 it

1. Mogilny Corporation owns a warehouse. On November 1, it rented storage space to a lessee (tenant) for 3 months for a total cash payment of $2,700 received in advance. Prepare Mogilny's November 1 journal entry and the December 31 annual adjusting entry.

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Accounting Basics: Mogilny corporation owns a warehouse on november 1 it

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