behind on accounting homework, difficulty understanding concepts.tech 01 the following independent events requires a year—end adjusting entry. Show how each event and its related adjusting entryaffect the accounting equation. Assume a December 31 closing date. The ﬁrst event is recorded as an example. [Do not roundintermediate calculations 8: Round your ﬁnal answer to nearest whole dollar.) F’P no Paid $6,000 cash in advance on October 1 for a one—year insurance policy. Received an $4.800 cash advance for a contract to provide services in the future. The contract required a one—year commitment.starting April 1. Purchased $1,800 of supplies on account. At year’s end: $235 of supplies remained on hand. . Paid $11,040 cash in advance on August 1 for a one-year lease on ofﬁce space. _I_IIH_____I_H__ _III_H____III_H____III_H____III_H____III_H____III_H___
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