On March 1, 2014, Nuggets Inc. paid $60,000 for office rent covering the three-month period ending May 31, 2014. Journalize the adjusting entry on March 31 by using the alternative treatment of prepaid expenses.

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The Answer of On March 1, 2014, Nuggets Inc. paid $60,000 for office rent covering the three-month period ending May 31, 2014. Journalize the adjusting entry on March 31 by using the alternative treatment of prepaid expenses.