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True or False - Johns Plumbing pays rent on 28 June 2013 in advance of the rental period for which it applies, 01-31 July 2013.
True or False- Johns Plumbing pays rent on 28 June 2013 in advance of the rental period for which it applies, 01-31 July 2013. Johns Plumbing follows an accrual basis of accounting and has a fiscal year-end of 30 June. It will claim the rent expense on its income statement for the fiscal year ended 30 June 2013.
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