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pls help me for 2 question 15,16 The balance in the prepaid rent account betore adjustment at the ond of the year is 532,000 ,
pls help me for 2 question 15,16
The balance in the prepaid rent account betore adjustment at the ond of the year is 532,000 , which roprosents four monthw rent paid on December 1 . The adjusting entry required on December 31 is dobit Prepaid Rent, 524,000 ; credit Rent Expenise, 58,000 dehit Rent Expense, \$8,000, credit Prepaid Rent, se,000 debit Rent Expense, \$24,000, credit Prepaid Rent, $8,000 debir Prepaid Rent, $8,000, credit Rent Expense, 58,000 Question 16 Husker Du Supplies Inc. purchased a 12-month insurance policy on March 1, 2018 for $1,800. At March 31, 2018, the adjusting journal entry to record expiration of this asset will include a debit to Prepaid Insurance and a credit to Cash for $1,800. debit to Prepaid Insurance and a credit to insurance Expense for $200. debit to Insurance Expense and a credit to Cash for $150. debit to Insurance Expense and a credit to Prepaid Insurance for $150 Step by Step Solution
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