Q 42

On November 25,2016,the company paid $24,000 rent in advance for a six-month period (December 2016 through May 2017).On December 31,2016,the adjustment for expired rent would include A) a $4,000 debit to Prepaid Rent. B) a $4,000 credit to Rent Expense. C) a $24,000 debit to Rent Expense. D) a $4,000 credit to Prepaid Rent.

Multiple Choice