Ll Bean Scotch Plaid Flannel Hoodie, represents a debt owed for renting a building currently. a .. About featured snippets•FeedbackQuestions & answersQuizletQuestionA payment for rent representsAnswer · 0 votesliabilityMoreQuizletQuestionA payment for rent representsAnswer · 0 votesa cash outflowMoreStudy.comQuestion____ represents a debt owed for renting a building currently. a. Prepaid rent b. Rent payable c.Answer · 0 votesThe correct answer is option b. Rent payable.• Option a. is incorrect. A prepaid rent exists when a lessee paid in advance to the lessor the occupancy fee. It is considered an asset on the part of the lessor because the rent has not been used up yet.• Option b. is the correct answer. Rent payable is a liability account on the part of the lessee to the lessor. It represents the payable occupancy fee for renting the building. The expense is already incurred by payment has not been made yet.• Option c. is incorrect. A rent revenue refers to the earnings earned by the lessee from renting its building to a lessor. Revenue is earned at the moment the rent is used up by the lessor regardless of when rent is collected.• Option d. is incorrect. A rent expense is the cost of occupying the building. It is usually recognized at the time by the lessor at the time it is incurred regardless of when the rent is paid.MoreCheggQuestionPayment of office rent represents a decrease ina. a liability account.b. expenses.c. cash.d. a revenue account.Answer · 1 voteThe correct option is C.Rent accountMoreStack ExchangeQuestionI looked for the dictionary and it seems both of words, 'rent' and 'rental' can mean the property or payment:Rental from Meriman-Webster:1: an amount paid or collected as rent2: something that is rentedRent from Meriam-Webster:1: property (such as a house) rented or for rent2a: a usually fixed periodical return made by a tenant or occupant ofproperty to the owner for the possession and use thereof especially :an agreed sum paid at fixed intervals by a tenant to the landlordb: the amount paid by a hirer of personal property to the owner forthe use thereofBut it seems there are some preferred usages of both words. For example, I found this article. 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