Record the original journal entry in your books of account, Business Management

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Record the original journal entry in your books of account

Problem

On December 1, 2019, LOL Company collected from a client P120,000 rental fee for 6 months.

Required you as the company owner:

i. Record the original journal entry in your books of account.
ii. Record the ending balance at the end of december 2019 and make a journal entry/adjusting entry.
iii. How much is the ending balance of unearned at the end of may 31, 2019 and the adjusting entry.
iv. Make a journal entry for #3.

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Business Management: Record the original journal entry in your books of account

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Business Management: Record the original journal entry in your books of account

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