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On July 1 the Oricle Shoe Store paid $24600 to Acme Realty for 6 months' rent beginning July 1. Prepaid Rent was increased for the
On July 1 the Oricle Shoe Store paid $24600 to Acme Realty for 6 months' rent beginning July 1. Prepaid Rent was increased for the full amount if financial statements are prepared on July 31 , the adfustment to be made by the Oriole Shoe Store is: increase Rent Expense, \$4100; decrease Prepaid Rent, $4100, increase Prepaid Rent, \$4100; decrease Rent Experse, \$4100. inctease Rent Expense, $24600; decrease Prepaid Rent, $4100. increase Rent Expense, $24600; decrease Prepaid Rent, $20500
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