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On November 1 Westside Dental Associates paid $20,000 to Office Realty for 4 month' rent beginning November 1 . Assuming financial statements are only prepared
On November 1 Westside Dental Associates paid $20,000 to Office Realty for 4 month' rent beginning November 1 . Assuming financial statements are only prepared at year-end, December 31st, the adjusting entry to be made by Westside Dental Associates on December 31st is: debit Rent Expense, \$10,000; credit Prepaid Rent, \$10,000. debit Prepaid Rent, \$20,000; credit Rent Expense, 20,000. debit Rent Expense, \$2,000; credit Prepaid Rent, \$2,000. debit Rent Expense, \$15,000; credit Cash, \$15,000
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