Patrick Services paid the office rent for the current month. The transaction would involve a

Question

Quizplus · Accepted Answer

When Patrick Services pays the office rent for the current month, it should be recorded as a debit to Rent Expense. This is because Rent Expense is an expense account that is used to record the cost of renting office space. Since the expense has been incurred during the current month, it should be recorded as an expense for the current period. There is no need to record a credit to Rent Payable or Prepaid Rent in this case.

Patrick Services Paid the Office Rent for the Current Month