Question
On July 1, Crane's Sports Store paid $14040 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debited for the full
On July 1, Crane's Sports Store paid $14040 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Cranes Sports Store is
Debit Rent Expense, $14040; Credit Prepaid Rent, $3510.
Debit Rent Expense, $14040; Credit Prepaid Rent, $14040.
Debit Prepaid Rent, $3510; Credit Rent Expense, $3510.
Debit Rent Expense, $3510; Credit Prepaid Rent, $3510.
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College Accounting Ch 1-12
Authors: Dansby
5th Edition
0763834955, 978-0763834951
