1. Pfister Corporation prepaid a full year's rents on their warehouse for the period from September 1, 2008 to August 31, 2009. At that time, they debited prepaid rent and credited cash for $24,000. Determine the correct balance in prepaid rent on December 31, 2008. Enter your answer with no commas, dollar signs, decimals, etc.
2.Pfister Corporation prepaid a full year's rents on their warehouse for the period from September 1, 2008 to August 31, 2009. At that time, they debited prepaid rent and credited cash for $24,000. Determine the correct of rent expense to be included in income for the year ending on December 31, 2008. Enter your answer with no commas, dollar signs, decimals, etc.