Two 2020 transactions of the Rowena Carpio Company are described below: April 1 - Carpio paid the Evelyn Ferraris Equipments P36,000 in advance to rent certain equipment over the next 12 months. July 1 - A check in the amount of P72,000 was received from Alaabang Consultants for professional services to be rendered over the next 24 months. On a clean sheet of papaer, prepare the necessary adjusting entries. Use the proper way of journalizing.

Two 2020 transactions of the Rowena Carpio Company are described below: April 1 - Carpio paid the Evelyn Ferraris Equipments P36,000 in advance to rent certain equipment over the next 12 months. July 1 - A check in the amount of P72,000 was received from Alaabang Consultants for professional services to be rendered over the next 24 months. On a clean sheet of papaer, prepare the necessary adjusting entries. Use the proper way of journalizing.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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am.101.