Homework Help: accounts

Posted by steve on Friday, March 30, 2012 at 3:35am.

a business leases a building for one year starting 1 october 2003. The rent is $24000 per year and business paid cash one year in advance on 1 october 2003. on dec. 31 2003 how much of that payment should be recorded as a rental expense and how much should be deferred?

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