help with requirement 3 On August 1, Sport Courts of Toledo prepaid six months of rent 55,400 Read t

help with requirement 3
On August 1, Sport Courts of Toledo prepaid six months of rent 55,400 Read the tequirements Requirement 1. Record the journal entry for the August 1 payment (Recerd debits t, then credits Select the axplanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Aug 1 Prepaid Rent 5.400 Cash 6,400 To recand rent paid in advande Requirement 2. Record the adjusting entry required at August 31. (Record debits first, then credits. Select the axplanation on the last ine of the journal entry table) Date Accounts and Explanation Debit Credit Aug 31 Rent Expense 900 Prepaid Rent To record rent expense Requirement 3. Using T-accounts, post the joumal entry and adjusting entry to the accounts volved and ishow their balances at August 31, 0gnore the Cash account ) posting reference. Post the journal entry and adjjusing entry to the two accounts using the dates as posting references, and then calculate and enter the ending balance of the accounts using a Bal Rent Expense Prepaid Rent

 

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