The Brighton Dental Corporation prepays the rent on its dent
The Brighton Dental Corporation prepays the rent on its dental office. On July 1, the corporation paid $18,000 for 6 months of rent
How much Rent Expense should Brighton Dental Corporation record the three months ended September 30 under the accrual basis? Why?
What will be an ideal response
ANSWER
Brighton Dental should report Rent Expense of $9,000 because expense is recorded when incurred.
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