A one-year store rental lease was signed on March 1 for $1,200 per month, and rent for the first 2 months was paid in advance. [Note: Record the complete entry for the March 1 transaction first, and the complete March 31 adjusting entry second.]

options for account: Cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest payable, wages payable, notes payable, paid-in-capital, retained earnings, leave blank

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