Kristine Company paid four months’ rent on Aug. 1 and debited to Prepaid rent for P80,000. On Aug. 31, Kristine should record
a. Credit cash for P20,000
b. Credit Prepaid Rent for P60,000
c. Debit Rent expense for P20,000
d. Debit Rent expense for P60,000
a. Credit cash for P20,000
b. Credit Prepaid Rent for P60,000
c. Debit Rent expense for P20,000
d. Debit Rent expense for P60,000
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Answer:
the answer is letter D
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