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Stancil Enterprises prepaid four months of office rent totaling $9,000 on October 1, 2017. Assuming ...

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Stancil Enterprises prepaid four months of office rent totaling $9,000 on October 1, 2017. Assuming ...

Stancil Enterprises prepaid four months of office rent totaling $9,000 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 $6,750
B) Debit Prepaid Rent and credit Rent Expense for $27,000
C) No entry is needed since Rent Expense was recorded on October 1, 2017
D) Debit Prepaid Rent and credit Rent Expense for $2,250

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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H3Ko Author

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7 years ago

I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right

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