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On September 1, O'Connell Builders paid $5,300 in advance for 12 months of rent, with the rental period beginning on September 1. This $5,300
On September 1, O'Connell Builders paid $5,300 in advance for 12 months of rent, with the rental period beginning on September 1. This $5,300 amount was correctly recorded as Prepaid Rent Expense on September 1. Which one of the following will be included in the December 31 adjusting entry? OA DEBIT to Rent Expense for $3,533. OA CREDIT to Prepaid Rent Expense for $1,767. OA CREDIT to Rent Expense for $1,767. A DEBIT to Prepaid Rent Expense for $1,767.
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