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On Jan 1, 2011, Meili Company had $105,321 in Prepaid Rent. On March 1, 2011, Meili recorded the payment of an additional $72,000 to prepaid
On Jan 1, 2011, Meili Company had $105,321 in Prepaid Rent. On March 1, 2011, Meili recorded the payment of an additional $72,000 to prepaid rent. Assuming no other journal entries were made related to rent, if the ending balance for prepaid rent was $87,982, the adjusting entry related to rent must have included which of the following? A debit to rent payable for $17,339 A debit to rent expense for $89,339 A credit to prepaid rent for $87,982 None of the above A credit to cash for $15,982
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