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Record the adjusting entry on December

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Reference no: EM132556949

Question - Suppose that Dela Victoria Company and its lessor agrees that Dela Victoria will pay rent at the end of January 2020, covering a 3-month period starting November 1, 2019. The entire amount is $15,000.

Required -

A) Record the adjusting entry on December 31, 2019.

B) Record the reversing entry on January 1, 2020.

C) Prepare the journal entry upon payment of rentals on January 31, 2020.

Reference no: EM132556949

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