Multiple Choice
QRT Co.received $1,560 advance from Zync Inc.as rent for the use of a building owned by QRT Co.How does this transaction affect QRT's accounts if QRT recognizes a liability on receipt of the rent?
A) Cash is increased, and sales revenue is increased.
B) Cash is increased, and rent income is decreased.
C) Cash is increased, and unearned rent is increased.
D) Cash is increased, and prepaid rent is increased.
Correct Answer:
Verified
Correct Answer:
Verified
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