The balances in the Rent Expenses account as on 19 Jan 2018 were asfollows:

Rent payable was $ 9250

Rent paid in advance was $4600

During the year 2018, the income statement showed a rental expense of$ 24500

Determine the Rent paid during 2018 if the balances as on 31st Dec 2018was as follows:

Rent payable was $5250

Rent paid in advance was $6300

Answer rating: 100% (QA)

To determine the rent paid during 2018 we need to find the change in the b... View the full answer