A one-year store rental lease was signed on March 1 for $13,200 for the year, an
ID: 2530555 • Letter: A
Question
A one-year store rental lease was signed on March 1 for $13,200 for the year, and rent for the first 4 months was paid in advance. [Note: Record the complete entry for the March 1 transaction first and the complete adjusting entry on March 31 second.] (choose an option for the account and answer the dollar amount based on the account )
1) Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
2)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
3)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
4)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
5)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
Explanation / Answer
Account Dollar Amount Cash -4400 Prepaid rent 4400 Prepaid rent -1100 Retained Earning -1100
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