Question: Current Attempt in Progress Sheffield Corp. received a check for $27900 on July 1 which represents a 6 month advance payment of rent on a

Current Attempt in Progress Sheffield Corp. received a check for $27900

Current Attempt in Progress Sheffield Corp. received a check for $27900 on July 1 which represents a 6 month advance payment of rent on a building it rents to a a client. Unearned Rent Revenue was increased for the full $27900. Financial statements will be prepared on July 31. Sheffield's should make the following adjustment on July 31: decrease Rent Revenue, $4650: increase Unearned Rent Revenue, $4650. O decrease Unearned Rent Revenue. $4650; increase Rent Revenue, $4650. O decrease Unearned Rent Revenue. $27900; increase Rent Revenue. $27900. O increase Cash, $27900: increase Rent Revenue, $27900

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