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Preparing Adjusting Journal Entries

See attachment.

Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2012, appears below. December 31 is the company's fiscal year-end.

Record the necessary adjusting entries on December 31, 2012

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Solution Summary

This solution illustrates how to prepare various adjusting journal entries.