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Home Q & A Board Other Fields Homework Help Business Accounting
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gOOvER gOOvER
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7 years ago
When a prepaid expense is initially recorded as an expense, the adjusting entry:
A) transfers the used portion to an asset account.
B) transfers the unused portion to an asset account.
C) transfers the used portion to an expense account.
D) there is no need for an adjusting entry.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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migrodmigrod
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7 years ago
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gOOvER Author
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6 years ago
Your help has been outstanding, keep it up!
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