Question: Among other items, the partial unadjusted trail balance of Filmblaster, Inc., a movie rental company, at December 31 of the current year includes the following unadjusted account balances: Filmblaster, Inc. Partial Unadjusted Account Balance December 31 Accounts Balance Prepaid Insurance $18650 Prepaid Rent $2208 Supplies $1300 Equipment $29000 Accumulated Depreciation - Equipment $2900 Examination of the records shows that adjustments should be made for the following items, Prepare the annual year end adjusting journal entries at December 31:.
b) The balance in the Prepaid Rent account is for a 12-month period that started October 1 of the current year.