A company has the following three events in December:December 1 - Pay last month's rent (November), $500.December 15 - Pay rent for the current month (December), $500.December 31 - Pay rent for the following year, $6,000.How much would be recorded as Rent Expense for the month of December using accrual-basis accounting?
A. $500.
B. $6,500.
C. $7,000.
D. $1,000.
Answer: A
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