On September 1, 2019 a company received P960,000 representing a rental of an office space for one year beginning on this date. The entries to record the receipt of the payment on September 1 and the adjusting entry on December 31 under the two methods.
On September 1, 2019 a company received P960,000 representing a rental of an office space for one year beginning on this date. The entries to record the receipt of the payment on September 1 and the adjusting entry on December 31 under the two methods.
On September 1, 2019 a company received P960,000 representing a rental of an office space for one year beginning on this date. The entries to record the receipt of the payment on September 1 and the adjusting entry on December 31 under the two methods.
Present journal entries and adjusting entries please!
Transcribed Image Text:On September 1, 2019 a company received
P960,000 representing a rental of an office
space for one year beginning on this date.
The entries to record the receipt of the
payment on September 1 and the adjusting
entry on December 31 under the two
methods.
Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.
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