On July 1, the Company paid cash for 6 months of rent expense in advance, $2,400. The
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On July 1, the Company paid cash for 6 months of rent expense in advance, $2,400. The prepaid rent will last through December 31. What entry should the Company record on July 1? (select all that apply)
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DR: Rent Expense $400
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CR: Rent Expense $400
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CR: Prepaid Rent $2,400
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DR: Cash $2,400
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CR: Cash $2,400
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DR: Prepaid Rent $2,400
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CR: Prepaid Rent $2,400
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