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Jan1 Prepaid Rent 3000 cash 3000 Adjusting entry Jan 31 Rent Expense 1000 Prepaid Rent 1000 How are of the account affected the adjustment (understated
Jan1 Prepaid Rent 3000
cash 3000
Adjusting entry
Jan 31 Rent Expense 1000
Prepaid Rent 1000
How are of the account affected the adjustment (understated or overstated) and the impact of the adjustment on the financial statement
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