On March 1, 2014, Nuggets Inc

question 91

Essay

On March 1, 2014, Nuggets Inc. paid $60,000 for office rent covering the three-month period ending May 31, 2014. Journalize the entry on March 1 by using the alternative treatment of prepaid expenses.

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Definitions:

Y-axis

The vertical line in a coordinate plane that measures the second coordinate of a point (its ordinate).

X-axis

The x-axis is the horizontal axis in a coordinate plane, used to represent one dimension of data or to plot the values of a function.

Ordered Pairs

A pair of elements (x, y), representing coordinates on a Cartesian plane.

Equation

An assertion in mathematics indicating that two expressions, often incorporating variables, are equivalent.