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QUESTION 20 4 points AAA Corporation has the following trial balance (unadjusted on December 31, 2020 Cash 536,575 Accounts receivable 5,902 Prepaid insurance 20,389 Prepaid
QUESTION 20 4 points AAA Corporation has the following trial balance (unadjusted on December 31, 2020 Cash 536,575 Accounts receivable 5,902 Prepaid insurance 20,389 Prepaid rent 28,600 Supplies 9,312 Building 270,000 Accumulated Depreciation $70,000 40,300 Accounts payable 26210 Unearned service revenue 176,428 28,600 9,312 270,000 Supplies Building Accumulated Depreciation Accounts payable Unearned service revenue Common Stock Retained earning $70,000 40,300 76,210 176.428 10.840 AAA Corporation prepaid two months of rent on December 1 (Assume the Prepaid Rent balance as shown on the unadjusted trial balance represents the two months of rent prepaid on December 1. Which of the following the adjusting journal entry required on December 317 Debit $14,300 to Rent Expense, credit $14.300 to Prepaid Rent Debit $14,300 to Rent Expense, credit $14,300 to Cash Debit 514,300 to Rent Payable, credit $14,300 to Prepaid Rent Debit $14,300 to Prepaid Rent credit 514,300 to Rent Expense
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