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Suppose on January 1 Adam​'s Tavern prepaid rent of $ 20 comma 400 for the full year. At March 31​, how much rent expense should be recorded for the period January 1 through March 31​?

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Answer:

$5,100

Explanation:

Assuming a constant monthly rent rate throughout the year, the amount that should be recorded as rent expense, per month, is:

[tex]M = \frac{\$20,400}{12}\\M=\$1.700[/tex]

From January 1st through March 31​st there are three full months. Therefore, the amount that should be recorded is:

[tex]A = 3*\$1,700\\A = \$5,100[/tex]

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