On September 1, y our calendar year company pays $12,000 for 1 years rent that you debit to Prepaid Rent At year end, what adjusting entry will you record a Prepaid Rent 4,000 Rent Expense 4,000 b Rent Expense 4,000 Cash 4,000 c Rent Expense 4,000 Prepaid Rent 4,000 d Prepaid Rent 8,000 Rent Expense 8,000 6 In June, y our calendar year company pays $1,200 for a 1 year insurance policy that you recorded in Prepaid Insurance If you do not record an adjusting entry at year end , how will the financial statements be affected Net income Assets Liabilities a overstated not affected understated b overstated overstated not affected c understated not affected overstated d understated understated not affected 7 In October, y our calendar year company pays $1,200 for 1 year s rent that you recorded in Rent Expense If you do not record an adjusting entry at year end , how will the financial statements be affected Net income Assets Liabilities a overstated not affected understated b overstated overstated not affected c understated not affected overstated d understated understated not affected 8 In July , y our calendar year company pays $1,200 for 1 year s insurance that you recorded in Prepaid Insurance If you do not record an adjusting entry at year end , how will the financial statements be affected

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On September 1, y our calendar year company pays $12,000 for 1 years rent that you debit to Prepaid Rent   At year end, what adjusting entry will you record  a  Prepaid Rent 4,000 Rent Expense 4,000 b  Rent Expense 4,000 Cash 4,000 c  Rent Expense 4,000 Prepaid Rent 4,000 d  Prepaid Rent 8,000 Rent Expense 8,000 6  In June, y our calendar year company pays $1,200 for a 1   year insurance policy that you recorded in Prepaid Insurance   If you do not record an adjusting entry at year end , how will the financial statements be affected  Net income Assets Liabilities a  overstated not affected understated b  overstated overstated not affected c  understated not affected overstated d  understated understated not affected 7  In October, y our calendar year company pays $1,200 for 1 year s rent that you recorded in Rent Expense   If you do not record an adjusting entry at year end , how will the financial statements be affected  Net income Assets Liabilities a  overstated not affected understated b  overstated overstated not affected c  understated not affected overstated d  understated understated not affected 8  In July , y our calendar year company pays $1,200 for 1 year s insurance that you recorded in Prepaid Insurance   If you do not record an adjusting entry at year end , how will the financial statements be affected

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On September 1, y our calendar year company pays $12,000 for 1 years rent that you debit to Prepaid Rent . At year end, what

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