Assume that cash is paid for rent to cover the next year.
The appropriate debit and credit are:
A. Debit Rent Expense, credit Cash.
B. Debit Prepaid Rent, credit Rent Expense.
C. Debit Prepaid Rent, credit Cash.
D. Debit Cash, credit Prepaid Rent.
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Home » Business » Assume that cash is paid for rent to cover the next year. The appropriate debit and credit are: A. Debit Rent Expense, credit Cash. B. Debit Prepaid Rent, credit Rent Expense. C. Debit Prepaid Rent, credit Cash. D. Debit Cash, credit Prepaid Rent.