Since the company is not large enough to occupy the entire building it owns, it rented space to a tenant at $2400.00 per month, starting on october 1, 2008. The rent was paid on time on October 1, and November 1, and the amount received was credited to the Rent Earned account. However the tenant has not paid the December rent. The company has worked out an agreement with thte tenant to pay both the December and January rent in full on January 15. The tenant has agreed to not fall behind again.
Adjustment
Dec 31 Rent Receivable?
rent earned?