Multiple Choice
Joe received $4,000 in advance for renting part of his building for 4 months. What is the entry to record the adjustment after one month has passed?
A) Debit Cash $1,000; credit Rental Income $1,000
B) Debit Cash $4,000; credit Rental Income $4,000
C) Debit Unearned Rent $1,000, credit Rental Income $1,000
D) Debit Unearned Rent $4,000, credit Rental Income $4,000
Correct Answer:
Verified
Correct Answer:
Verified
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