On october 2016, sengal Company recorded a joumal entry debiting prepaid rent and crediting cash for $1,200 in payment for one year of office rent. At ecember 3 2016, the inancial statements should report: Rent Expense of $1,200 on the balance sheet A. nt Expense of 1,200 on the income statement B. Rent on the balance sheet C. Expense $300 of pense of $300 on the income state
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