Can some one please explain how the answer for this question comes out to be...
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Can some one please explain how the answer for this question comes out to be $1000. Thanks in advance.
Q)On August 1, 2015, Xcel Auto Repair, Inc. paid $6,000 for six months rent. After adjusting entries are made, what will be the balance of Prepaid Rent on December 31, 2015?
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