On March 1, 2016, Nortons, Inc. paid $60,000 as office rent covering the three-month period ending May 31, 2016. Journalize the entry on March 1 by using the alternative treatment of deferred expenses. Omit explanation.

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The Answer of On March 1, 2016, Nortons, Inc. paid $60,000 as office rent covering the three-month period ending May 31, 2016. Journalize the entry on March 1 by using the alternative treatment of deferred expenses. Omit explanation.