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could someone help me explain how to get to the answer. The answers are already there but i want to learn how to get to
could someone help me explain how to get to the answer. The answers are already there but i want to learn how to get to the numbers of adjusting entries of A and B. someone said to use t-accounts but do not know how a t-account works either. thank you in advance
The company paid 18,000 for a one year lease that commenced on 9/1/20
a) If company recorded to rent expense: (adjusting entry)
prepaid rent 12000
rent expense 12000
b) If a company recorded to Prepaid rent: (adjusting entry)
Rent Expense 6000
Prepaid rent 6000
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