Which of the following would be used to record the expiry of prepaid rent during the period?
A)A journal entry
B)An adjusting entry
C)A closing entry
D)A temporary account

Question

Quizplus · Accepted Answer

Prepaid rent is a type of prepaid expense, which needs to be adjusted at the end of each accounting period to match the portion that has been consumed during that period. Therefore, an adjusting entry would be used to record the expiry of prepaid rent during the period.

Which of the Following Would Be Used to Record the Expiry