Multiple Choice
A transaction in which six months' rent is paid in advance results in which of the following journal entries?
A) Prepaid Rent - Debit; Cash - Credit
B) Rent Receivable - Debit; Cash - Credit
C) Rent Revenue - Debit; Cash - Credit
D) Rent Expense- Debit; Cash - Credit
Correct Answer:
Verified
Correct Answer:
Verified
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