Manning, Co

Question 42

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Manning, Co. collected 6-months' rent in advance from a tenant on November 1 of the current year. When it collected the cash, it recorded the following entry: Manning, Co. collected 6-months' rent in advance from a tenant on November 1 of the current year. When it collected the cash, it recorded the following entry: Prepare the required adjusting entry at December 31 of the current year. Prepare the required adjusting entry at December 31 of the current year.

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