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On February 1 , 2 0 1 8 Widget Company paid $ 3 6 , 0 0 0 to cover the next six months of
On February Widget Company paid $ to cover the next six months of rent on its warehouse space. Widget prepares monthly financial statements. What entry would Widget post on April as part of preparing its April financial statements?
Group of answer choices
Debit rent expense, credit rent payable
None of the other answers are correct
Debit prepaid rent, credit rent expense
No entry would be necessary in April
Debit cash, credit prepaid rent
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