Videobusters, Inc. offered books of video rental coupons to its patrons at 540 per book. Each book contained a certain number of coupons for video rentals. During the current period 500 books were sold for 520,000, and this amount was credited to Unearned Rental Revenue. At the end of the period, it was determined that 515,000 worth of book coupons had been used by customers to rent videos. The appropriate adjusting entry at the end of the period would be:
A. Debit Rental Revenue 55,000 and credit Unearned Rental Revenue 55,000.
B. Debit Rental Revenue 515,000 and credit Unearned Rental Revenue 515,000.
C. Debit Unearned Rental Revenue 55,000 and credit Rental Revenue 55,000.
D Debit Unearned Rental Revenue 515,000 and credit Rental Revenue 515,000.