Question
Oriole Company paid cash of $153000 on June 1, 2020 for one years rent in advance and recorded the transaction with a debit to Prepaid
Oriole Company paid cash of $153000 on June 1, 2020 for one years rent in advance and recorded the transaction with a debit to Prepaid Rent. The December 31, 2020 adjusting entry is
debit Prepaid Rent and credit Rent Expense, $89250.
debit Prepaid Rent and credit Cash, $63750.
debit Rent Expense and credit Prepaid Rent, $89250.
debit Prepaid Rent and credit Rent Expense, $63750.
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Cost Accounting College Version
Authors: Steven M. Bragg
1st Edition
1938910702, 978-1938910708
