66.

1. On September 1, 2004, Merit Company paid the landlord $4,800 for one year's rent in advance. A temporary account was debited. The adjusting entry at December 31, 2004 would include a:

   		debit to Prepaid Rent
   		credit to Prepaid Rent
   		debit to Rent Payable
   		debit to Rent Expense
   		none of the above

67.

1. Refer to the above question. The amount of the adjusting journal entry at December 31, 2004 would be:

   		$ 4,800
   		$ 3,200
   		$ 400
   		$ 1,600
   		none of the above

68.

On October 1, 2004, Merit received $7,000 in advance for fees to be earned evenly over seven months beginning on that date. A temporary account was credited. The required adjusting journal entry at December 31, 2004 would include a:

		debit to Cash
		credit to Unearned Fee Revenue
		credit to Cash
		credit to Fee Revenue
		none of the above