Match each transaction with the type of entry that will be required at April 30,the company's year-end.
-The company has $8,300 in Prepaid Rent at the beginning of April and uses $3,600 of that for its April rent.

Question

Quizplus · Accepted Answer

This transaction requires a deferral adjusting entry because a portion of the prepaid rent ($3,600) was used in April, and therefore needs to be recognized as an expense for the month.

Match Each Transaction with the Type of Entry That Will