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November 15, 2017 Peavys Cleaning Service agrees to rent a trailer that it will use as a temporary office. The rental cost, as determined by

November 15, 2017

Peavys Cleaning Service agrees to rent a trailer that it will use as a temporary office. The rental cost, as determined by Ferry Company, the lessor, will be $250 per month. Ferry will prorate this months rent using a November 15 start date. Peavy pays November rent. In the future, rent will be due and paid at the first of the month.

What is the journal entry?

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