question,
August 1: Signs a two-year lease with the university for a small space in the food court. Monthly rent is $1,000. In addition, Cookie must pay 2 percent of sales in additional rent at the end of the year. No rent is required for August. Cookie writes a cheque for $3,000 for rent for September through November.
journal entries until December 31, 207
Question: Record the additional rent expense at 2 percent of sales.
The answer is 846, but dont know how to solve it
August 1: Signs a two-year lease with the university for a small space in the food court. Monthly rent is $1,000. In addition, Cookie must pay 2 percent of sales in additional rent at the end of the year. No rent is required for August. Cookie writes a cheque for $3,000 for rent for September through November.
journal entries until December 31, 207
Question: Record the additional rent expense at 2 percent of sales.
The answer is 846, but dont know how to solve it