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You are using the Payable's Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to Mar 31st.
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B. On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
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D. On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000On Jan 10th, Debit Prepaid Expense for 12,000 and Credit Liability for 12,000
Answer: C
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C. In the Insert tab, in the Links group, click Hyperlink
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Answer: B
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