ANSWERS TO QUESTIONS
1. Depreciation Expense ($250 X 3) 750 Accumulated Depreciation—Equipment 750 2. Unearned Rent Revenue ($9,300 X 1/3) 3,100 Rent Revenue 3,100 3. Interest Expense 500 Interest Payable 500 EXERCISE 3-5 (Continued) 4. Supplies Expense 1,950 Supplies ($2,800 – $850) 1,950 5. ................
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