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Hank's Tax Planning Service Started Business in January 2013

Question 21

Multiple Choice

Hank's Tax Planning Service started business in January 2013. He rented an office for $900 a month starting 1 January. He prepaid the rentals up to 30 June. He makes accrual adjustments monthly. As of 30 April, Hank's ledger shows a balance in Prepaid Rent of how much?


A) $900
B) $2 700
C) $5 400
D) $1 800

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