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A company has the following three events in December. 1. December 1 - Pay last month's rent (November). $500. 2. December 15- Pay rent for

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A company has the following three events in December. 1. December 1 - Pay last month's rent (November). $500. 2. December 15- Pay rent for the current month (December). $500. 3. December 31 - Pay rent for the following year. $6,000. How much would be recorded as Rent Expense for the month of December using accrual-basis accounting? Multiple Choice $1,000 $7.000 $6,500 $500

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