On July 1, Alpha, Inc. prepaid rent for a small equipment storage area. Alpha paid $20,000 to rent the area from July 1 through the end of the year. Provide the journal entry needed on July 1 when the payment is made. (Ignore explanation)
Assume the deferred expense is initially recorded as an asset.
What will be an ideal response
Prepaid Rent 20,000
Cash 20,000
Business
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Vision statements represent the reason that organizations exist.
a. True b. False
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Email messages should be limited to one topic because
a. some computers cannot display longer messages. b. an email message should not contain competing ideas. c. the recipient might forget to respond to multiple points discussed. d. messages with multiple topics take too long to type.
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