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    Financial and Managerial Accounting Study Set 5
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    Exam 3: The Adjusting Process
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    On January 2nd, Dog Mart Prepaid $15,000 Rent for the Year
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On January 2nd, Dog Mart Prepaid $15,000 Rent for the Year

Question 139

Question 139

Essay

On January 2nd, Dog Mart prepaid $15,000 rent for the year and recorded the prepayment in an asset account. Prepare the January 31st adjusting entry for rent expense.

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