The Journal Entry to Record a Payment Made in January

question 61

Multiple Choice

The journal entry to record a payment made in January for rent for the months of February and March would include:

• A)a debit to Rent Expense, and a credit to Sue Snow, Capital.
• B)a debit to Sue Snow, Drawing and a credit to Rent Expense.
• C)a debit to Rent Expense and a credit to Cash.
• D)a debit to Prepaid Rent and a credit to Cash.

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Definitions:

Revenue Expenditures

Expenditures that are immediately charged against revenues in the period they are incurred, typically related to the maintenance and repair of assets.