5) BMCC started business in January 2018. The school rented an office for $1800 per month starting from January 1, 2018. On that day, BMCC prepaid the rent through June 30. The college makes adjusting entries at the end of each month. What is the balance in the Prepaid Rent account as of April 30, 2018?

A) $300 B) $3600 C) $1800 D) $900

6) On July 1, BMCC prepaid rent for an equipment storage building. BMCC paid $20,000 to rent the building from July 1 through the end of the year. Prepare the journal entry needed on July 1 when the payment is made. (Ignore explanation). Assume the deferred expense is initially recorded as an asset.

7) On July 1, BMCC paid rent of $15,000 for an equipment storage building from July 1 until December 31. Prepare the adjusting journal entry on July 31. (Ignore explanation). Assume the deferred expense is initially recorded as an asset.

8) On April 1, BMCC purchased office supplies for $1,500. At the end of April, BMCC's employees took a count of the remaining supplies and found that there was $500 of supplies left. Provide the adjusting entry needed at the end of April. (Ignore explanation). Assume the office supplies were initially recorded as an asset. Assume there were no office supplies on hand prior to the purchase on April 1.