Expensing one month of prepaid rent
Transaction
On November 1 a company paid $9,000.00 for six months’ rent in advance (November through April) and debited Prepaid Rent. Record the adjusting entry on November 30.
Assumptions: The company prepares monthly financial statements and adjusts its accounts at the end of each month.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
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Credit
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Debits $0.00Credits $0.00
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