Jerry’s Window Service received $14,000 from a client on February 20. This payment was an advance payment for 7 months of window cleaning starting March 1. The window cleaning services are provided equally over the 7 months. At May 31, calculate the balance in the unearned revenue account assuming that all adjusting entries have been properly recorded. Select one: $14,000 $ 6,000 $10,000 $ 8,000 On December 1, Optima Corp. paid $6,000 for rent expense covering December, January and February rent. On December 31, after all adjusting entries, Optima Inc. will report Prepaid Rent of: Select one: $4,000 $0 $6,000 $2,000

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For Jerrys Window Service The advance payment of 14000 received on February 20 for 7 months of windo... View the full answer