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S3-4 (similar to) Question Help 0 Suppose on January 1 Andrews Tavern prepaid rent of $12,000 for the full year. At August 3

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Answer #1

Rent expense per month:

= $12,000 / 12

= $1,000

Rent expense till August 31st:

= $1,000 X 8 months (ie. Jan to Aug)

= $8,000

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