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The adjusting entry required on December 31 is:?
The balance in the prepaid rent account before adjustment at the end of the year is $15,000, which represents three months' rent paid on December 1. The adjusting entry required on December 31 is:
a. debit Rent Expense, $5,000; credit Prepaid Rent, $5,000
b. debit Prepaid Rent, $10,000; credit Rent Expense, $5,000
c. debit Rent Expense, $10,000; credit Prepaid Rent, $5,000
d. debit Prepaid Rent, $5,000; credit Rent Expense, $5,000
2 Answers
- SandyLv 71 decade agoFavorite Answer
The adjusting entry required on December 31 is:
a. debit Rent Expense, $5,000; credit Prepaid Rent, $5,000
- Anonymous1 decade ago
a is correct
