Membership in a global technology, Accounting Basics

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Membership in a global technology

On August 1, Secret Sauce Technologies Inc. paid $12,672 in advance for two years' membership in a global technology association.
Prepare Secret Sauce's August 1 journal entry and the annual adjusting entry on December 31. Prepare journal entries, treating the initial August 1 expenditure as an expense.

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Accounting Basics: Membership in a global technology

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Accounting Basics: Membership in a global technology

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