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On $10/01/$x$1$ a company pays the rent of $$660$ for a storage unit to house its equipment. The rent cover the period $10/1/$x$1$ through $3/31/$x$2/.$ What will the entry on $10/01/$x$1$ do to our net income? Does this increase, decrease, or have no effect on our income?

Answer rating: 100% (QA)

The entry on 1001x1 will decrease net income in the current period Oct 2021 This is becaus... View the full answer