Multiple Choice
On January 1 Corporate Condos,Inc received $96,000 for one year's rent for building A.What would the adjusting entry be on March 31?
A) Debit Rent Expense $8,000,credit Prepaid Rent $8,000
B) Debit unearned rent revenue $8,000,credit rent revenue $8,000
C) Debit Rent Expense $24,000,credit Prepaid Rent $24,000
D) Debit unearned rent revenue $24,000,credit rent revenue $24,000
Correct Answer:
Verified
Correct Answer:
Verified
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