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H3Ko H3Ko
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7 years ago
What type of account is Prepaid Rent, and what is its normal balance?
A) It is a revenue account and has a credit balance.
B) It is a liability account and has a credit balance.
C) It is an expense account and has a debit balance.
D) It is an asset account and has a debit balance.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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7 years ago
I just realized you had posted this! Thanks so much
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