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9) Carlos Company paid Four months' rent on December 1 and debited rent expense for 80,000. On December 31, Carlos should A. credit prepaid rent 20,000 B. debit prepaid rent 20,000 C. credit 60,000 rent expense D. credit rent expense 20,000

9) Carlos Company paid Four months' rent on December 1 and debited rent expense for 80,000. On December 31, Carlos should A. credit prepaid rent 20,000 B. debit prepaid rent 20,000 C. credit 60,000 rent expense D. credit rent expense 20,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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9) Carlos Company paid Four months' rent on December 1 and debited rent expense for 80,000. On December 31, Carlos should A. credit prepaid rent 20,000 B. debit prepaid rent 20,000 C. credit 60,000 rent expense D. credit rent expense 20,000
Transcribed Image Text:9) Carlos Company paid Four months' rent on December 1 and debited rent expense for 80,000. On December 31, Carlos should A. credit prepaid rent 20,000 B. debit prepaid rent 20,000 C. credit 60,000 rent expense D. credit rent expense 20,000
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