Essay
On November 1, 20A, Zany Company leased some of its office space to Fox Company and immediately collected twelve months rent in advance of $24,000. Zany debited cash and credited unearned rent revenue for $24,000. At the end of 20A (the end of the accounting period), give the adjusting entry Zany should make in respect to the rent.
Correct Answer:
Verified
Correct Answer:
Verified
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