Question
NOTMY Corp prepaid the rent on its store. A review of the lease showed that $20,000 was still unexpired at June 10, the end of
NOTMY Corp prepaid the rent on its store. A review of the lease showed that $20,000 was still unexpired at June 10, the end of Bolvards fiscal year. Determine the proper adjusting entry at June 10, the end of the fiscal year, based on a prepaid rent account balance before adjustment of $46,500 and record it below.
Expired amount of Prepaid Rent $____________________
Adjusting Journal Entry:
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
10th Edition
0273703641, 978-0273703648
