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On January 3rd, Fast Forward Inc. pays its landlord, Rental Inc. $5,000 for the rent for the month of December (of the previous year).
On January 3rd, Fast Forward Inc. pays its landlord, Rental Inc. $5,000 for the rent for the month of December (of the previous year). Which of the following journal entries does Fast Forward Inc. record on January 3rd? Account Debit Credit Prepaid Rent Cash 5,000 5,000 Account Debit Credit Cash 5,000 Rental revenue 5,000 Account Debit Credit Rent payable 5,000 Cash 5,000 Account Debit Credit Rent expense 5,000 Cash 5,000
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Financial Accounting with IFRS Fold Out Primer
Authors: John Wild
5th edition
978-0077408770, 77408772, 978-0077413804
