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Winston, Co. is charged $11,200 per month for rent on the first of each month for the upcoming month. Winston pays the rent on the
Winston, Co. is charged $11,200 per month for rent on the first of each month for the upcoming month. Winston pays the rent on the first of each of the months January through October 2020, but fails to make the payments on November 1 and December 1, 2020. Winston's income statement for 2020 and December 31, 2020 balance sheet should show: a) $112,000 of rent expense and $22,400 of rent payable. b) $134,400 of rent expense and $0 of rent payable. c) $112,000 of rent expense and $0 of rent payable. d) $134,400 of rent expense and $22,400 of rent payable. e) None of these answers are correct
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