Answered

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on july 1, the knit shop paid $9,000 to townsend realty for 6 months’ rent beginning july 1. prepaid rent was debited for the full amount. if financial statements are prepared on july 31, the adjusting entry is:

Sagot :

Answer:

debit Rent Expense, $1,500; credit Prepaid Rent, $1,500.

Explanation:

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