(D) neither an accrual nor a deferral scenario. In October 2002, Elton John Inc. Paid $3,600 for rent for the months of October, November and…
(D) neither an accrual nor a deferral scenario. In October 2002, Elton John Inc. Paid $3,600 for rent for the months of October, November and December 2002. On December 1, 2002, when Elton John Inc. Closes its books, what will be the NET balance in the Prepaid Rent account?
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