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On December 1,2011,Fleet Company Paid $30,000 for Three Months Rent

question 130

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On December 1,2011,Fleet Company paid $30,000 for three months rent and debited prepaid rent for $30,000; the rent payment was for three was for three months beginning December 1,2011.Prepare Fleet's adjusting entry required on December 31,2011.

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Definitions:

Insider Trading

The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information.

Nonpublic Corporate Information

Information related to a company that has not been released to the public and could be considered confidential or proprietary.

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Also known as the Securities Act of 1933, a U.S. law enacted to ensure more transparency and honesty in the marketing and sale of securities, aiming to prevent frauds.

Attorney General of the United States

The principal legal officer who represents the United States in legal matters and heads the U.S. Department of Justice.

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