on march 1, complete computer service paid cash of $900 for rent expense for the current month.

the journal entry to record this transaction would be:

option 1:
date | accounts | debit | credit
--- | --- | --- | ---
| rent expense | 900 |
| cash | | 900

option 2:
date | accounts | debit | credit
--- | --- | --- | ---
| rent expense | 900 |
| accounts payable | | 900

option 3:
date | accounts | debit | credit
--- | --- | --- | ---
| cash | 900 |
| rent expense | | 900

option 4:
date | accounts | debit | credit
--- | --- | --- | ---
| accounts payable | 900 |
| rent expense | | 900

Question

on march 1, complete computer service paid cash of $900 for rent expense for the current month.

the journal entry to record this transaction would be:

option 1:
date | accounts | debit | credit
--- | --- | --- | ---
 | rent expense | 900 |
 | cash | | 900

option 2:
date | accounts | debit | credit
--- | --- | --- | ---
 | rent expense | 900 |
 | accounts payable | | 900

option 3:
date | accounts | debit | credit
--- | --- | --- | ---
 | cash | 900 |
 | rent expense | | 900

option 4:
date | accounts | debit | credit
--- | --- | --- | ---
 | accounts payable | 900 |
 | rent expense | | 900

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [ "Journal Entry" ], "new_concepts": [], "current_concepts": [ "Journal Entry", "Rent Expense Posting", "Cash Account Posting" ] } ## Identify the transaction components $$ \begin{aligned} &\text{Transaction: Paid cash of } \$900 \text{ for rent expense.} \ &\text{Account 1: Rent Expense (Expense increases } ightarrow \text{Debit)} \ &\text{Account 2: Cash (Asset decreases } ightarrow \text{Credit)} \end{aligned} $$ ## Determine the debit and credit amounts $$ \begin{aligned} &\text{Debit: Rent Expense } \$900 \ &\text{Credit: Cash } \$900 \end{aligned} $$ ## Match with the given options $$ \begin{aligned} &\text{Option 1: Debit Rent Expense 900, Credit Cash 900} \quad (\text{Correct}) \ &\text{Option 2: Debit Rent Expense 900, Credit Accounts Payable 900} \quad (\text{Incorrect}) \ &\text{Option 3: Debit Cash 900, Credit Rent Expense 900} \quad (\text{Incorrect}) \ &\text{Option 4: Debit Accounts Payable 900, Credit Rent Expense 900} \quad (\text{Incorrect}) \end{aligned} $$

(A) Date: March 1 | Accounts: Rent Expense (Debit 900) / Cash (Credit 900)

(B) Date: March 1 | Accounts: Rent Expense (Debit 900) / Accounts Payable (Credit 900)

(C) Date: March 1 | Accounts: Cash (Debit 900) / Rent Expense (Credit 900)

(D) Date: March 1 | Accounts: Accounts Payable (Debit 900) / Rent Expense (Credit 900)

{ "subject": "Business", "question_type": "Multiple Choice", "knowledge_point": [ "Business", "Accounting", "Journal Entry" ] }

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QUESTION IMAGE

Question

Explanation:

Identify the transaction components

Determine the debit and credit amounts

Match with the given options

Answer: