During the year ended March 31, 2009 the company had the following transactions:1. Paid rent of… 1 answer below »
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During the year ended March 31, 2009 the company had the following transactions:1. Paid rent of $24,000 on September 1, 2008. The rent is for the 12-month period beginning on September 1, 2008.Adjusting entry:2. The prepaid rent of $6,000 on March 31, 2008 relates to rent paid in advance for the six months from April 2008 to September 2008.
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