Business, 11.06.2020 23:57 8236

On January 1, the Sleepy Monk Coffee Shop paid $15,000 for a full year of rent beginning on January 1. The rent payment was appropriately recorded in the Cash and Prepaid Rent accounts. If financial statements are prepared on January 31, the journal entry to record the adjustment would be:

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On January 1, the Sleepy Monk Coffee Shop paid $15,000 for a full year of rent beginning on January...

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