On July 1,Alpha Company Prepaid Rent for a Small Equipment $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

question 60

Essay

On July 1,Alpha Company prepaid rent for a small equipment storage area in the amount of $12,000 for the period of July 1 through the end of the year.At the end of July,an adjustment entry is needed.Please provide that adjustment entry.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

---

Definitions:

Cholesterol

A waxy, fat-like substance present in all cells of the body, needed to make vitamin D, hormones, and substances that help digest foods.

Lipid

A group of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins, and others, serving as key components of cell membranes and energy storage.

Steroid

Large family of lipids, including some reproductive hormones, vitamins, and cholesterol.

Phospholipids

A class of lipids that are a major component of all cell membranes, known for their bilayer formation that makes up the plasma membrane's structure.