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Behaviorists would describe personality as
Prepaid Rent
The payment made for rent before it's due, recorded as an asset on the balance sheet until it's recognized as an expense in the period to which it relates.
Adjusting Entry
An entry made in the accounts to correct or allocate income and expenses to the appropriate accounting period.
Three Months Rent
An accounting entry typically categorized as a prepaid expense, representing payment for rent before it's due.
Closing Entry
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to a permanent equity account, thereby preparing the books for the next period.
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