Business, 01.03.2021 22:20 EmmaKozlewski4907
The balance in the prepaid rent account before adjustment at the end of the year is $32,000, which represents four months' rent paid on December 1. The adjusting entry required on December 31 is:
a. debit Rent Expense, $8,000; credit Prepaid Rent, $8,000
b. debit Prepaid Rent, $24,000; credit Rent Expense, $8,000
c. debit Rent Expense, $24,000; credit Prepaid Rent, $8,000
d. debit Prepaid Rent, $8,000; credit Rent Expense, $8,000
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The balance in the prepaid rent account before adjustment at the end of the year is $32,000, which r...
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