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Record the January expense, on January 31, 2026, for the store rent by creating a journal entry to reallocate one-sixth ($550) of the total prepaid
Record the January expense, on January 31, 2026, for the store rent by creating a journal entry to reallocate one-sixth ($550) of the total prepaid store rent amount; the prepaid amount was originally paid on January 30, 2026, for $3,300 to the Prepaid Expenses account.
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