Rent Paid Annually Dither Company rents a warehouse and pays the rent annually on June 1. The company provided the following information at the end of the current year:

a. What amount did Dither Company pay on June 1? Give the journal entry for the payment.

b. What was the monthly rent expense in January?

c. What was the monthly rent expense in December?

Transcribed Image Text:

Prepaid rent, January 1 $2,000 Prepaid rent, December 31 2,250 Rent expense for year 5,150