Prepaid and unearned rent
On September 1, 2011, Ameriship paid West Coast Rentals $36,000 for a 12-month lease on warehouse space.
Required
a. Record the deferral and the related December 31, 2011, adjustment for Ameriship in the accounting equation.
b. Record the deferral and the related December 31, 2011, adjustment for West Coast Rentals in the accounting equation.
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