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a. Prepaid rent in cash = $6.

A = L + SE
Prepaid Rent
+6
Cash
-6
Journal entry:
Prepaid Rent 6
Cash 6

b. Rent Used, $6– $6/2 = $3.

A = L + SE
Prepaid Rent Rent Expense
Rent used –3 = –3

Journal entry:
Rent expense 3
Prepaid Rent 3

c. Air traffic Liability = $2

A = L + SE
Cash Air traffic liability
Unearned Fee Revenue 2 = 2

Journal entry:
Cash 2
Air traffic liability 2

d. Air traffic Revenue = $1

A = L + SE
Air traffic liability Air traffic
Revenue
Air traffic revenue = -1 +1

Journal entry:
Air traffic liability 1
Air traffic Revenue 1
e. Loan Receivable = $30

A = L + SE
Air traffic liability Air traffic
Revenue
Air traffic revenue = -1 +1

Journal entry:
Air traffic liability 1
Air traffic Revenue 1