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Ponds Corporation makes adjusting entries monthly and is busy with closing off its March records. During March the company paid R 6 0 , 0

Ponds Corporation makes adjusting entries monthly and is busy with closing off its

March records. During March the company paid R

60, 000

for rent and as a result at

31

March, the general ledger shows rent as a debit balance of R

60, 000 .

Rent is

charged at a rate of R

12, 000

per month. What adjusting entry is necessary at

31

March?

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