Multiple Choice
On May 1,2012,Perez Company paid $12,000 rent for a one year lease on equipment it uses in its operations.The adjusting entry at the end of the year
A) decreases assets and stockholders' equity.
B) decreases assets and liabilities.
C) increases an expense and decreases a liability.
D) is not required.
Correct Answer:
Verified
Correct Answer:
Verified
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