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It's not expense or asset. Please explain logic behind this as I'm a bit confused. The balance in the Prepaid Rent Account is $1,000 less
It's not expense or asset. Please explain logic behind this as I'm a bit confused.
The balance in the Prepaid Rent Account is $1,000 less at the end of the month than at the beginning of the month. This implies that: Multiple Choice None of the other statements are correct statements $1,000 must have been charged to an expense account during the month $1,000 must have been charged to an asset account during the month $1,000 must have been charged to a revenue account during the month $1,000 must have been charged to a liability account during the monthStep by Step Solution
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