On the 30/5/93 Tolu & Co. paid 2 years rent of N50,000 which was debited…

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Accounts - Principles of Accounts JAMB 1997

On the 30/5/93 Tolu & Co. paid 2 years rent of N50,000 which was debited to the rent account.
At 31/12/93, what portion of that amount was prepaid?

  • N14,583 checkmark
  • N25,000
  • N35,417
  • N37,415

The correct answer is: A

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