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Home Q & A Board Other Fields Homework Help Business Accounting
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samilee samilee
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5 years ago
Stancil Enterprises prepaid four months of office rent totaling $8,100 on October 1, 2017.  Assuming Stancil records deferred expenses using the alternative treatment, what would be the adjusting entry recorded on December 31, 2017?
A) Debit Rent Expense and credit Prepaid Rent for $6,075
B) No entry is needed since Rent Expense was recorded on October 1, 2017
C) Debit Prepaid Rent and credit Rent Expense for $2,025
D) Debit Prepaid Rent and credit Rent Expense for $24,300
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Horngren's Accounting

Horngren's Accounting


Edition: 11th
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