Lein Corp entered into the following transactions during its first year in business. The firm prepares adjusting entries on an annual basis.
1 Jan 1: Bought equipment with a 7 year useful life. Value of equipment...........
Lein assumes equal depreciation annually.
2 March 31: prepaid one years rent
3 July 1, took bank loan at 8% for...
4 August 1: received payment for services not yet rendered...............
5 On Dec 31, had earned of payment in Item 4
6 On Dec 31, utility expense of............ have been incurred.
Prepare journal entries for Items 1-4 and YE adjusting entries.