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  • May 10, 2012, 01:40 PM
    amendez002
    Adjusting entries
    Prepaid rent at 1/1/12 was $9,000. During 2012 rent payments of $120,000 were made and charged to "rent expense." The 2012 income statement shows as a general expense the item "rent expense" in the amount of $135,000. You are to prepare the missing adjusting entry that must have been made, assuming reversing entries are not made.

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