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21 January, 17:48

On November 1, 2019, Wenger Co. paid its landlord $4,140 in cash as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Prepare the horizontal model to record the six-month advance rent payment on November 1, 2016.

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  1. 21 January, 18:11
    0
    Assets

    Cash: - $4,140

    Prepaid Rent: $4,140

    Explanation:

    given data

    paid landlord = $4,140

    time = 6 month

    to find out

    horizontal model to record the six-month advance rent payment on November 1, 2016

    solution

    we get here 6 month advance rent payment on November 1, 2016 that is as

    date title Debit Credit

    November 1,2016 Prepaid Rent 4140

    Cash 4140
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