On June 1,2014,Starbucks paid the rent of $60,000 for 30 different stores in Washington and California.The rent covers the period,June 1,2014 through November 30,2014.On June 1,Starbucks will record ________.On June 30,Starbucks will record ________.

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On June 1, Starbucks will record a prepaid rent of $60,000, as the rent covers the period from June 1 to November 30. This means they are paying in advance for the rent expense that will be incurred over the next six months.

On June 30, Starbucks will record a rent expense of $10,000 ($60,000/6 months), as this is the amount of rent expense that applies to June. For the rest of the months, the prepaid rent will be gradually expensed out and recorded as rent expense in the corresponding months.

On June 1,2014,Starbucks Paid the Rent of $60,000 for 30