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QUESTION
Company A began operation on January 1, 2005. On January 1,2005, prepaid $24,000 for 2 years of rent, and at that time debited rent...
Company A began operation on January 1, 2005. On January 1,2005, prepaid $24,000 for 2 years of rent, and at that time debited "rent expense". The associated adjusting entry necessary fpr the year ended December, 31, 2005 includes:
debit to ( ) of ( ) and credit to ( ) of ( ) or no entry needed
