At the start of the financial year on 1 July, a business has an accrual on the rent account of $600. Over the financial year, rent payments were made as shown below: 26 July: paid 3 months' rent to 31 July: $900 11 November: paid 4 months' rent to 30 November: $1200 15 March: paid 4 months' rent to 31 March: $1200 What amount should be shown as a prepayment or accrual for rent at the end of the financial year on 30 June?
- A$600 accrual
- B$600 prepayment
- C$900 accrual
- D$900 prepayment