Prepaid Rent is a(n)________ account and has a normal ________ balance.
A) asset; debit
B) liability; credit
C) liability; debit
D) asset; credit

Name: Prepaid Rent is a(n)________ account and has a normal ________ balance. A) asset; debit B) liability; credit C) liability; debit D) asset; credit
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Question

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Prepaid Rent is an asset account because it represents a benefit that the company has already paid for, but not yet received. The normal balance for an asset account is a debit balance.

Prepaid Rent Is A(n)________ Account and Has a Normal ________

Prepaid Rent Is A(n) Account and Has a Normal