Question: Assume the same facts as in (1) above, except the bookkeeper made the following entry on April 1: Dr. Cr. Prepaid rent Cash 18,000

Assume the same facts as in (1) above, except the bookkeeper made

Assume the same facts as in (1) above, except the bookkeeper made the following entry on April 1: Dr. Cr. Prepaid rent Cash 18,000 18,000 The bookkeeper did not make any adjusting entries related to this amount before December 31. Required: a. Calculate the adjusted ending balance in the Prepaid Rent account and the Rent Expense account at December 31. b. Prepare t-accounts showing the April I transaction, the adjustment to be made at December 31, and the ending balances in Prepaid Rent and Rent Expense. Prepaid Rent Rent Expense c. Prepare the general journal adjusting entry for December 31.

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