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The balance in the Prepaid Rent account on December 31, 2020 was $21,000. It represents 6 months of rent that was in effect starting September

The balance in the Prepaid Rent account on December 31, 2020 was $21,000. It represents 6 months of rent that was in effect starting September 1, 2020. Prepare the December 31, 2020 year-end adjusting entry.

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