On November 1,Duane Paid $24,000 in Advance for a Year's

question 73

Multiple Choice

On November 1,Duane paid $24,000 in advance for a year's rent.The November 30 adjusting entry for rent expense should include a:

• A)debit Rent Expense,$24,000.
• B)credit Prepaid Rent,$24,000
• C)debit Rent Expense,$2,000.
• D)credit Cash,$2,000.

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Definitions:

Elaborative Rehearsal

A way of increasing the number of retrieval cues for information by connecting new information with something that is already well known.

Maintenance Rehearsal

A cognitive process involving the repetition of information to keep it in short-term memory for longer periods.

Long-term Memory

A type of memory responsible for the storage of information over an extended period, ranging from several minutes to a lifetime.

Semantic Memory

Type of declarative memory containing general knowledge, such as knowledge of language and information learned in formal education.