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On October 1, Year 1 Allen Company paid $24.000 cash to lease office space for one year beginning immediately. How would the adjustment on December
On October 1, Year 1 Allen Company paid $24.000 cash to lease office space for one year beginning immediately. How would the adjustment on December 31, Year 1 to recognize rent expense affect the company's financial statements? Balance Sheet Income Statement statement of Cash Flows Assets = Liab. Equity Rev. Exp = Net Inc. (6,000) 6,000 -OA (6,000) B. ||(6,000) c.|(2,000) D. ||(4,000) (2,000) (4,000) 6,000 (6,000) 6,000 |(6,000) 2,000|(2,000) 4,000 (4,000) + -OA Multiple Choice O Option C O Option A O Option D Option B
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