Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are:
Debit Rent Expense, credit Cash.
Debit Prepaid Rent, credit Rent Expense.
Debit Prepaid Rent, credit Cash.
Debit Cash, credit Prepaid Rent.
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are: Debit Rent Expense, credit Cash. Debit ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are: Debit Rent Expense, credit Cash. Debit Prepaid Rent, credit Rent Expense. Debit Prepaid Rent, credit Cash. Debit Cash, credit Prepaid Rent.