Question: 3 . On April 1 , 2 0 2 4 Irish Co . receives $ 1 2 , 0 0 0 in cash for 1

3. On April 1,2024 Irish Co. receives $12,000 in cash for 12 months of future rent from one of the tenants in Irish Co.s building. On December 31,2024, what is the effect of the adjusting entry on the balance sheet?A) No effect.B) Total liabilities increases by $12,000.C) Total liabilities decreases by $9,000.D) Total liabilities decreases by $12,000.

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