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Author Question: On January 1, Renoir Associates paid $6,400 for six months of rent. Assume no other adjusting ... (Read 70 times)

jho37

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On January 1, Renoir Associates paid $6,400 for six months of rent. Assume no other adjusting entries have been done this fiscal year. What would the adjusting entry be on March 31?
◦ Debit Rent Expense $1,067, credit Cash $1,067
◦ Debit Rent Expense $3,200, credit Prepaid Rent $3,200
◦ Debit Rent Expense $1,067, credit Prepaid Rent $1,067
◦ Debit Rent Expense $3,200, credit Cash $3,200


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Marked as best answer by jho37 on Feb 18, 2020

SamMuagrove

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jho37

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)


TheNamesImani

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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