1. On June 1, 2022, an advance rent payment of $8,400, representing a four-month prepayment for the months of June, July, August, and September, was received in cash from the companys tenant.

The adjusting entry that will be made at the end of each month to show the amount of rent earned during the month is:

Multiple Choice

a.

Debit	Cash	2,100
Credit	Rent Revenue		2,100

b.

Debit	Cash	8,400
Credit	Unearned Rent Revenue		8,400

c.

Debit	Unearned Rent Revenue	6,300
Credit	Rent Revenue		6,300

d.

Debit	Unearned Rent Revenue	2,100
Credit	Rent Revenue		2,100

2. For the payroll period ended on May 7, 2022, gross pay was $102,000, net pay was $78,000, and various withholdings totaled $24,000. The journal entry to show the effects of the payroll accrual on May 7, 2022 is:

Multiple Choice

a.

Debit	Cash	102,000
Credit	Withholding Liabilities		24,000
Credit	Wages Payable		78,000

b.

Debit	Wages Payable	78,000
Debit	Withholding Liabilities	24,000
Credit	Cash		102,000

c.

Debit	Wages Expense	78,000
Debit	Withholding Liabilities	24,000
Credit	Wages Payable		102,000

d.

Debit	Wages Expense	102,000
Credit	Withholding Liabilities		24,000
Credit	Wages Payable		78,000