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On October 25, 20x1, the company paid $27,000 rent in advance for the six-month period November 20x1 through April 20x2. On December 31, 20x1,
On October 25, 20x1, the company paid $27,000 rent in advance for the six-month period November 20x1 through April 20x2. On December 31, 20x1, the adjustment for expired rent would include Mutiple Choice a59,000 debit to expense a 527000 credit to Cash $9,000 credit to Rent Expense $4500 credit to Prepaid
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