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please help. i try 1800$ and 150$ but it still wrong Using the QBO Sample Company, Craig's Design and Landscaping Services, complete the following. Craig
please help. i try 1800$ and 150$ but it still wrong
Using the QBO Sample Company, Craig's Design and Landscaping Services, complete the following. Craig paid $1,800 rent on December 1 for an entire year (12 months). So at the end of the accounting period on December 31, Craig has used 1 month of rent @ $150 ($1,800/12 months = $150 per month). The unused portion of the rent is Prepaid Rent Expense, an asset account with future benefit. Since Craig recorded the entire $1,800 as Rent Expense, an adjusting entry is needed to bring accounts up to date at December 31. 1. Complete the following table. Account Increase or Decrease? Debit or Credit? Amount Rent Expense Prepaid Rent Expense Account Type Expense Asset Decrease Credit 300 increase Debit S 300Step by Step Solution
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