Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For a journal entry question in accounting: it says the paid rent for the year was $30 with $3 remaining in the prepaid rent account

For a journal entry question in accounting:

it says the paid rent for the year was $30 with $3 remaining in the prepaid rent account at the end of the year.


Journal entry would be

dr. rent expense 33

cr. cash 30

cr prepaid rent 3

?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management and Cost Accounting

Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

6th edition

1292063467, 978-1292063461

More Books

Students also viewed these Accounting questions

Question

Solve the inequalities in Problems 4150. 7-5A Answered: 1 week ago

Answered: 1 week ago

Question

How do retail and wholesale businesses differ?

Answered: 1 week ago