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Janis Corporation also rents a small office space with a monthly rental charge of $1,500. As of March 1st the balance of the prepaid rent
Janis Corporation also rents a small office space with a monthly rental charge of $1,500. As of March 1st the balance of the prepaid rent account is So. On March 3rd Janis pays their landlord $6.000 for the months of March April May, and June. Janis posted the following entry on March 3rd: OR Rent Expense 1.500 Prepaid Rent 4,500 CR Cash 6,000 What if any, adjusting entry is needed on March 31st? NOTE: You cannot change the entry that was posted on March 3rd even if it was possibly Incorrect. DR CR
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