Monroe Company Recorded These Transactions During the Year $\$ 1,000$ Per Month Rent Revenue Has Not Been Received for Decermber

question 60

Essay

Monroe Company recorded these transactions during the year.Monroe Company has an accounting year-end of December 31. 1. An insurance policy was recorded on Juy l in the amount of $5,000, recorded as prepaid insurance. The policy provides liability protection for a one-year period.
2. Monroe Company rents property for $\$ 1,000$ per month. Rent revenue has not been received for Decermber.
3. Income taxes of $8,000 need to be recorded for December.
4. A pramis5ary nate payable of $\$ 10,000$ was recorded on October 1. At December 31, interest payable of $200 was owed.
5. At December 31, salary expense of $800 was payable.
Required:
Record the adjusting entries at December 31 using T accounts.Use the number of the transaction in lieu of a date for identification purposes.

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Definitions:

Reflexology

A treatment based on massage of the feet to relieve symptoms in other parts of the body.

Horticultural Therapy

An adjunct therapy to occupational and physical therapy that has people view nature, visit a healing garden or a wander garden, or actually participate in gardening to decrease social isolation, foster interactions with others, stimulate the five senses, provide leisure activities, improve motor function, provide a sense of achievement, and improve self-esteem.

Mental Health Issues

Conditions that affect a person's thinking, feeling, behavior or mood, potentially impacting daily functioning and well-being.

Infection

The invasion and multiplication of microorganisms such as bacteria, viruses, and fungi in body tissues, which can lead to symptoms and disease.