Sanborn Company rents space to a tenant for $3,400 per month. The tenant currently owes rent for

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Sanborn Company rents space to a tenant for $3,400 per month. The tenant currently owes rent for November and December. The tenant has agreed to pay the November, December, and January rents in full on January 15 and has agreed not to fall behind again. Assuming adjustments are only made at year-end, the adjusting entry needed on December 31 is:

Multiple Choice

Debit Rent Receivable, $10,200; credit Rent Earned, $10,200.
Debit Unearned Rent, $6,800; credit Rent Earned, $6,800.
Debit Unearned Rent, $3,400; credit Rent Earned, $3,400.
Debit Rent Receivable, $6,800; credit Rent Earned, $6,800.
Debit Rent Receivable, $3,400; credit Rent Earned, $3,400.

Posted Date: Nov 12, 2021 11:55 PM

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Sanborn Company rents space to a tenant for $3,400 per month. The tenant currently owes rent for

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