Please make journal entries and perform account reconcliation based on the following assumptions;

Account Name Account Number

Prepaid Rent 11300

Cash 10101

Rent 53600

1- A newly leased property requires a $ 40,000 deposit in May 2021. Please make journal entry to record this transaction.

2- $ 200,000 in prepaid rent will be used to cover April and May 2021 rent ( $100,000 each month) . The office is used for both consulting and development deparments. Please make journal entry to record this transaction.

3- $ 120,000 in prepaid rent deposit will be amortized in 2021 (starting Jan 2021). Please make journal entry to record this transaction.

4- Please perform an account reconciliation after all entries are entered.