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a company is in its first month of operations. on january 1, the company pays 3 months of rent in advance for $2,100. what adjusting entry would be made at the end of january? post the adjusting entry for the scenario provided.

Respuesta :

Rent Expenses for 1 month will be ($2,100/ 3 Months) * 1 month = $700

calculate the adjusting entry for the scenario provided.

Adjusting entry for the prepaid rent on January 31:

Jan. 31 Rent expense $700  

 Prepaid rent   $700

 ( To record rent expense for January )  

Rent Expenses for 1 month will be ($2,100/ 3 Months) * 1 month = $700

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