Record adjusting journal entries for each of the following for year ended December 31. Assume no other
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Question:
Assume no other adjusting entries are made during the year.
On September 1, a client paid the company $43,200 cash for six months of rent in advance (the client leased a building and took occupancy immediately). The company recorded the cash as Unearned Rent Revenue. What is the unearned rent revenue and rent revenue?
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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