a. The Krug Company collected $ 7 , 2 0 0 rent in advance on November 1
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a. The Krug Company collected $ rent in advance on November debiting Cash and crediting Unearned Rent Revenue. The tenant was paying months' rent in advance and occupancy began on November
b Unearned Services Revenue. The company charges $ per insect treatment. A customer paid $ on October in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At yearend, the company has applied three treatments for the customer.
c Unearned Rent Revenue. On September a client paid the company $ cash for six months of rent in advance and took occupancy immediately. The company recorded the cash as Unearned Rent Revenue.
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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