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Take me to the text On April 18,2023, an auditor noticed that UGL Inc....

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Accounting

Take me to the text
On April 18,2023, an auditor noticed that UGL Inc. accidentally recorded a rent expenditure of $59,000 as an expense instead of as prepaid. The purchase was made on the last day of the 2022 fiscal period. Write the journal entry that should be recorded in the 2023 fiscal period to correct the Prepaid Rent account. Assume that the insurance covers the period of May 1,2023 to April 30,2024 and the tax rate is 20%.
Do not enter dollar signs or commas in the input boxes.
Enter the credit accounts in alphabetical order.
\table[[Date,Account Title and Explanation,Debit,Credit],[Apr 18,-,,],[,-,,],[,,,],[,,,],[,,,]]
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