Solved: If the company makes an adjustment as of december 31 2010, Accounting Basics

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If the company makes an adjustment as of december 31 2010

Question - On October 1, 2010, Jenson Co. paid $75,000 for its rent for the five months from October 2010 through February 2011. The entire amount of the payment was recorded in the Prepaid Rent account. No adjustments have been recorded relating to this account. If the company makes an adjustment as of December 31, 2010, what amount should be included in the related adjusting journal entry?

A. $30,000

B. $45,000

C. $60,000

D. $75,000

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Accounting Basics: If the company makes an adjustment as of december 31 2010

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Accounting Basics: If the company makes an adjustment as of december 31 2010

Reference No:- TGS02848088

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