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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 50. On March 3rd Janis pays their landlord 56,000 for the months of March April May, and june, Janis posted the following entry on March 3rd: DR 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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