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11. QuestionOn January 1 of the current year, Cicco Laundrette Co.'s expects to receive $6,000 for the office space rented to a tenant to cover
11. QuestionOn January 1 of the current year, Cicco Laundrette Co.'s expects to receive $6,000 for the office space rented to a tenant to cover 6 months' rental (January through June). Cicco's tenant paid $6,000 in the month of May and recorded this transaction on May 31 as follows: Debit: Cash. $6,000 Credit: Rent Revenue. $6,000 If Cicco adjusts the accounts at the end of each month, what should be the correct entries to account for these adjustments at the end of May? * (1 Point) Debit Rent Revenue $1,000; credit Rent Expense $1,000 Debit Unearned Rent $1,000; credit Rent Expense $1,000 Debit Cash $6,000; credit Prepaid Rent $6,000 Debit Rent Revenue $1,000; credit Unearned Rent $1,000 Debit Unearned Rent $6,000; Credit Rent Expense $6,000
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