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NOTMY Corp prepaid the rent on its store. A review of the lease showed that...

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Accounting

NOTMY Corp prepaid the rent on its store. A review of the lease showed that $20,000 was still unexpired at June 10, the end of Bolvards fiscal year. Determine the proper adjusting entry at June 10, the end of the fiscal year, based on a prepaid rent account balance before adjustment of $46,500 and record it below.

Expired amount of Prepaid Rent $____________________

Adjusting Journal Entry:

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