The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts during the year-end closing process would be:

a. Dec. 31

Revenues 925

Income Summary 925

b. Dec. 31

Income Summary 925

Fees Earned 750

Rent Revenue 175

c. Dec. 31

Fees Earned 750

Rent Revenue 175

Income Summary 925

d. Dec. 31

Income Summary 925

Revenues 925

James sebenius, in his harvard business review article: six habits of merely effective negotiators, identifies six mistakes that negotiators make that keep them from solving the right problem. identify which mistake is being described. striving for a “win-win” agreement results in differences being overlooked that may result in joint gains.

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Afood worker has just rinsed a dish after cleaning it.what should he do next?