Friday, October 9, 2020

Assume that cash is paid for rent to cover the next year. The appropriate debit and credit would be:

Assume that cash is paid for rent to cover the next year. The appropriate debit and credit would be:


A) Debit Rent Expense, credit Cash.

B) Debit Prepaid Rent, credit Rent Expense.

C) Debit Prepaid Rent, credit Cash.

D) Debit Cash, credit Prepaid Rent.


Answer: C

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