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What account balance would be shown for the company

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Problem 1: On January 1, 2021, the company, involved in trading activities, paid ?120,000 rent in advance for a 12-month period. On December 31, 2021, after journalizing and posting the company's adjustment for expired rent but before any closing entries, a ?120,000 account balance would be shown for the company's

a. Prepaid Rent Expense
b. Rent Expense
c. Accrued Rent Income
d. Accrued Rent Expense

Reference no: EM132831157

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