Mini$-$Exercise $7-2($Algo$)$ Unearned revenues$-$rent LO $7-3$

On December $1,2022,$ an advance rent payment of $$10,200,$ representing a three$-$month prepayment for the months of December,

January, and February, was received in cash from the company's tenant.

Required:

Use the horizontal model to record the effects of the following items and complete the below table. Indicate the financial statement

effect.

a$.$ The three monthis of rent collected in advance on December $1,2022.$

b$.$ The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month.

Note: Enter decreases with a minus sign to indicate a negative financial statement effect.

Complete this question by entering your answers in the tabs below.

Required B

Use the horizontal model to record the effects of the three months of rent collected in advance on December $1,2022.$

Note: Enter decreases with a minus sign to indicate a negative financial statement effect.