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Select all that apply On October 1, Arcelia Corp. pays $24,000 for two years of rent. The transaction is appropriately recorded in a prepaid rent
Select all that apply
On October 1, Arcelia Corp. pays $24,000 for two years of rent. The transaction is appropriately recorded in a prepaid rent account. On December 31, of the same year Arcelia should make an adjusting entry for the rent expired, which includes (Select all that apply.)
Multiple select question.
debit to rent expense for $3,000.
debit to prepaid rent for $3,000.
debit to rent expense for $9,000.
credit to rent expense $3,000
credit to prepaid rent $3,000
credit to rent expense $9,000
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