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On November 1, Duane paid $12,000 in advance for a year's rent. The November 30 adjusting entry for rent expense should include a credit Prepaid

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On November 1, Duane paid $12,000 in advance for a year's rent. The November 30 adjusting entry for rent expense should include a credit Prepaid Rent, $12,000 a credit Cash, $1,000. a debit Rent Expense, $1,000. a debit Rent Expense, $12,000

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