The balance in the prepaid rent account before adjustment at the end of the year is...
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The balance in the prepaid rent account before adjustment at the end of the year is $10080 and represents three months rent paid on December 1. The adjusting entry required on December 31 is: debit Prepaid Rent, $6720; credit Rent Expense, $6720. debit Rent Expense, $10080; credit Prepaid Rent, $10080. debit Rent Expense, $3360; credit Prepaid Rent, $3360. debit Prepaid Rent, $3360: credit Rent Expense $3360. The balance in the prepaid rent account before adjustment at the end of the year is $10080 and represents three months rent paid on December 1. The adjusting entry required on December 31 is: debit Prepaid Rent, $6720; credit Rent Expense, $6720. debit Rent Expense, $10080; credit Prepaid Rent, $10080. debit Rent Expense, $3360; credit Prepaid Rent, $3360. debit Prepaid Rent, $3360: credit Rent Expense $3360.
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Answer rating: 100% (QA)
debit Rent Expense 3360 credit Prepaid Rent 3360 Year end is December 31 Rent paid on ... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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