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On November 1,Duane Paid $24,000 in Advance for a Year's

Question 123

Multiple Choice

On November 1,Duane paid $24,000 in advance for a year's rent.The November 30 adjusting entry for rent expense should include a:

A) debit Rent Expense,$24,000.
B) credit Prepaid Rent Expense,$24,000.
C) debit Rent Expense,$2,000.
D) credit Cash,$2,000.

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