Business, 12.05.2020 00:57 Astudent333

Panda Corporation paid cash of $60,000 on June 1, 2014 for one year's rent in advance and recorded the transaction with a debit to Prepaid Rent 31,000 and Cash 31,000. The December 31, 2014 adjusting entry is what?

PLEASE SHOW MATH CALCULATION FOR PARTIAL YEAR

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Panda Corporation paid cash of $60,000 on June 1, 2014 for one year's rent in advance and recorded t...