Multiple Choice
Everything Bikes is owed $550 rent which has not been received by 3l December 2018, the last day of the accounting period. The adjusting entry on that date is:
A) DR Bank $550; CR Rent income $550
B) DR Accounts receivable $550; CR Rent income $550
C) DR Rent income $550; CR Accounts receivable $550
D) DR Rent expense $550; CR Accrued Rent $550
Correct Answer:

Verified
Correct Answer:
Verified
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