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Describe the effect on chs companys financial statements

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Reference no: EM131803412

The CHS Company paid $36,000 cash to its landlord on November 1, 2016 for rent covering the six-month period from November 1, 2016 through April 30, 2017. The books are adjusted only at year-end. Which of the following does not correctly describe the effect on CHS Company's financial statements of the December 31, 2016 adjusting entry?

Reference no: EM131803412

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