The balance in the prepaid rent account before adjustment at the end of the year is $14,035, which represents 9 months' rent paid on December 1. The adjusting entry required on December 31 is Oa. debit Rent Expense, $1,559; credit Prepaid Rent, $1,559 b. debit Prepaid Rent, $12,476; credit Rent Expense, $1,559 c. debit Rent Expense, $12,476; credit Prepaid Rent, $1,559 Od. debit Prepaid Rent, $1,559; credit Rent Expense, $1,559

College Accounting (Book Only): A Career Approach
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ISBN:9781337280570
Author:Scott, Cathy J.
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Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
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The balance in the prepaid rent account before adjustment at the end of the year is $14,035, which represents 9 months' rent
paid on December 1. The adjusting entry required on December 31 is
a. debit Rent Expense, $1,559; credit Prepaid Rent, $1,559
b. debit Prepaid Rent, $12,476; credit Rent Expense, $1,559
c. debit Rent Expense, $12,476; credit Prepaid Rent, $1,559
d. debit Prepaid Rent, $1,559; credit Rent Expense, $1,559
Transcribed Image Text:The balance in the prepaid rent account before adjustment at the end of the year is $14,035, which represents 9 months' rent paid on December 1. The adjusting entry required on December 31 is a. debit Rent Expense, $1,559; credit Prepaid Rent, $1,559 b. debit Prepaid Rent, $12,476; credit Rent Expense, $1,559 c. debit Rent Expense, $12,476; credit Prepaid Rent, $1,559 d. debit Prepaid Rent, $1,559; credit Rent Expense, $1,559
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