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adjusting entries The following events occurred for Kira & Company on October...

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Accounting

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The following events occurred for Kira & Company on October 31, 2020, the end of its fiscal year: Kira & Co. rents a building from its owner for P 66,000 per month. By prearrangement, the company delayed paying October's rent until November 5. On this date, the company paid the rent for both October and November. Chart of Account Cash Rent Receivable Prepaid Rent Rent Payable Unearned Rent Rent Expense Rent Revenue Assuming Kira does not use reversing entries, prepare journal entries to record Kira's payment of rent on November 5. Debit Rent Expense Debit Rent Payable Credit Cash Credito

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