A company has the following three events in December: 1.December 1 - Pay last month's rent (November),$500.2.December 15 - Pay rent for the current month (December),$500.3.December 31 - Pay rent for the following year,$6,000.How much would be recorded as Rent Expense for the month of December using accrual-basis accounting?
A)$6,500.
B)$7,000.
C)$1,000.
D)$500.

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The Answer of A company has the following three events in December: 1.December 1 - Pay last month's rent (November),$500.2.December 15 - Pay rent for the current month (December),$500.3.December 31 - Pay rent for the following year,$6,000.How much would be recorded as Rent Expense for the month of December using accrual-basis accounting?
A)$6,500.
B)$7,000.
C)$1,000.
D)$500.

A Company Has the Following Three Events in December: 1