Question: Based on the fact, make the appropriate adjusting journal entry. One of the offices in Amazing Goods' building is rented out to Great Products Co.

Based on the fact, make the appropriate adjusting journal entry.

One of the offices in Amazing Goods' building is rented out to Great Products Co. for $500 each month. On September 16, 2020, Great Products Co. paid for the rent from October through December of 2020 (income statements are issued quarterly). At the end of the year, Great Products Co. pays rent for another 6 months for January 1, 2021 to June 31, 2021.

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