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On September 1, 2024, Real Estate Professionals Company paid $6,000 in advance for an eight-month rental space covering the period of September 1, 2024 through
On September 1, 2024, Real Estate Professionals Company paid $6,000 in advance for an eight-month rental space covering the period of September 1, 2024 through April 30, 2025. The deferred expense was initially recorded as an asset. The company makes adjusting entries once a year at year-end. The adjusting entry on December 31, 2025 would include a ..... A. credit of $3,000 to Rent Expense B. debit of $3,000 to Rent Expense O C. credit of $6,000 to Prepaid Rent D. debit of $6,000 to Cash
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