Why recorded the transaction with a credit to unearned rent, Accounting Basics

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Why recorded the transaction with a credit to unearned rent

Pappy Corporation received cash of $13,500 on September 1, 2010 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent. The December 31, 2010 adjusting entry is

a. debit Rent Revenue and credit Unearned Rent, $4,500.

b. debit Rent Revenue and credit Unearned Rent, $9,000.

c. debit Unearned Rent and credit Rent Revenue, $4,500.

d. debit Cash and credit Unearned Rent, $9,000.

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Accounting Basics: Why recorded the transaction with a credit to unearned rent

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Accounting Basics: Why recorded the transaction with a credit to unearned rent

Reference No:- TGS0713879

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Why recorded the transaction with a credit to unearned rent

Reference No:- TGS0713879

Recent Questions Asked Accounting Basics

Q : Plot magnitude of transmitted force as function of operating

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Q : What is the time the ball is in the air

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