question archive Journalize the following transactions of ATS Service Company for the month of October 2020
Journalize the following transactions of ATS Service Company for the month of October 2020
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Journalize the following transactions of ATS Service Company for the month of October 2020. Paid next 1 year's rent of $50.400 in advance. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
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| Account Titles and Explanation | Debit ($) | Credit ($) |
| Prepaid Rent | 50,400 | |
| Cash | 50,400 | |
| [Journal entry for prepaid rent] | ||
| Rent Expenses ($50,400 / 12 Months) | 4,200 | |
| Prepaid Rent | 4,200 | |
| [Journal entry for prepaid rent expense for the month of october] |
