On November 1 , 2 0 2 2 , Gordon Company collected $ 6 , 3 0
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Question:
On November Gordon Company collected $ in cash from its tenant as an advance rent payment on its store location. The sixmonth lease period ends on April at which time the contract may be renewed.
Record the journal entry to show the effect of the six months of rent collected in advance on November for Gordon Company.
Record the journal entry to show the effect of the adjustment that will be made at the end of each month to show the amount of rent "earned" during the month for Gordon Company.
Related Book For
Accounting What the Numbers Mean
ISBN: 978-1260565492
12th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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