Which account the adjusting journal entry on december

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On June 1, 2019, KA Company paid $12,000 to lease office space for the next twelve months. KA Company debited a permanent account on June 1 when the cash was paid. KA Company adjusts its books on December 31 each year.

Question 1. The journal entry on June 1, 2019 would include a debit to which account?

a. Accounts Payable

b. Cash

c. Prepaid Rent

d. Retained Earnings

e. Rent Expense

Question 2. The adjusting journal entry on December 31, 2019 would include a debit to which account?

a. Accounts Payable

b. Cash

c. Prepaid Rent

d. Retained Earnings

e. Rent Expense

Question 3. The adjusting journal entry on December 31, 2019 would include a credit to which account?

a. Accounts Payable

b. Cash

c. Prepaid Rent

d. Retained Earnings

e. Rent Expense

Question 4. The amount of the adjusting journal entry on December 31, 2019 is:

Reference no: EM132689399

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