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On June 1 Kamal Shoe Store paid $8,000 to Ram Realty for 4 months rent beginning Decemper 1. Prepaid Rent was debited for the full
On June 1 Kamal Shoe Store paid $8,000 to Ram Realty for 4 months rent beginning Decemper 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on Decemper 31. the adjusting entry to be made by Kamal Shoe Store is Select one: O a. Debit Rent Expense $8,000 and Credit Prepaid Rent $2,000 O b. Debit Prepaid Rent $2,000 and Credit Rent Expense $2,000 O C. Debit Rent Expense $8,000 and Credit Prepaid Rent $8,000 O d. Debit Rent Expense $2,000 and Credit Prepaid Rent $2,000
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