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Acwen Corp is a U.S. company which owns warehouse space that it regularly leases out to manufacturing companies. Bentey Inc. is the lessee on a

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Acwen Corp is a U.S. company which owns warehouse space that it regularly leases out to manufacturing companies. Bentey Inc. is the lessee on a new 4 year lease (beginning January 1, Year 1) with the following terms As an incentive to enter into the lease, Acwen offers Bentley a reduced $2,000 per month rate for the first 3 months. For all other months, the rent will be $5,000 per month .A lease bonus paid by Bentey of $7 200. Arent kicker equal to 3% ofthe amount of annual operating income hat exceeds $750.000 .A refundable security deposit pasid by Ben ey of $5,000. Benley's Year 1 operating income is $800,000 1. From Bentey's perspective, provide the journal entries for the following: a. Monthly rent expense Debit Credit Debit Amount Credit Amount 2Rent Expense $5,000.00 Cash $5,000.00

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