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On October 1, 2019, a company paid $9,000 rent in advance. The rent per month is $1,000. Assuming the company's accounting period ends on December
On October 1, 2019, a company paid $9,000 rent in advance. The rent per month is $1,000. Assuming the company's accounting period ends on December 31, 2019, what will be reported on the financial statements? a. Prepaid Rent of $6,000 on its balance sheet at December 31, 2019 b. Rent Expense of $9,000 on its 2019 income statement c. Rent Revenue of $6,000 on its 2019 income statement d. Prepaid Rent of $9,000 on its balance sheet at December 31, 2019
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