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S3-4 (similar to) E Question Help Home Furniture Stores Prepaid rent balance is $9,000 on October 1. This prepaid rent represents twelve months rent. Journalize and post the adjusting entry on October 31 to record one months rent. Compute the balances of the two accounts involved on October 31 Journalize the adjusting entry for one months rent. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Oct 31 Rent expense Prepaid rent
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