I need help for this question I am stuck The Kaleido Glass Shop began business on October 1, 20–0. Its first fiscal year ended on September 30,
20–1. On January 1, 20–1, $720 was paid for a truck licence for the 20-1 calendar year. Create Taccounts in your notes to record the entries below.
A. Give the accounting entry to record the above transaction.
B. Calculate the value for the prepaid licence on September 30, 20–1.
C. Calculate the truck licence expense for the fiscal period ended September 30, 20–1.
D. Give the adjusting entry necessary at September 30, 20–1. On January 1, 20–2, $720 was paid
for the truck licence for the 20–2 calendar year.
E. Give the balance in the Prepaid Licences account after recording the above payment.
F. Calculate the value for the prepaid licence on September 30, 20–2.
G. Calculate the truck licence expense for the fiscal period ended September 30, 20-02