A transaction has been recorded in the T-accounts of Powell Corporation as follows:
Rent Expense
1,000
Prepaid Rent
Which of the following reflects how this event affects the company's financial statements?
Asset
=
Liab.
+
Stk. Equity
Rev.
Exp.
Net Inc.
Stmt of Cash Flows
A.
NA
+FA
B.
C.
+OA
D.
OA
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