Multiple Choice
On September 1,2016,Joy Company paid $6,000 in advance for an eight-month rental space covering the period of September,2016 through April 2017.The deferred expense was initially recorded as an asset.Joy Company makes adjusting entries once a year at year-end.The adjusting entry on December 31,2016 would include a ________.
A) debit of $6,000 to Cash
B) credit of $6,000 to Prepaid Rent
C) debit of $3,000 to Rent Expense
D) credit of $3,000 to Rent Expense
Correct Answer:
Verified
Correct Answer:
Verified
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