31. Unearned Rent Revenue is A) a contra account to Rent Revenue. B) a revenue account. C) reported as a current liability D) decreased when rent is received in advance. 32. A retailer that collects sales taxes is acting as an agent for the A) taxing authority. B) chamber of commerce. C) wholesaler D) customer. 33. If the market rate of interest is greater than the contractual rate of interest, bonds will sell A) at a premium. B) only after the stated rate of interest is increased. C) at face value. D) at a discount. 34. Which of the following represents the largest number of common shares? A) Outstanding shares. B) Treasury shares. C) Issued shares. D) Authorized shares. 35. The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2017. The dividend is to be paid on August 15, 2017, to stockholders of record on July 31, 2017. The effects of recording the declaration of the dividend on July 15, 2017, are to A) increase stockholders' equity and increase liabilities. B) decrease stockholders' equity and increase liabilities. C) decrease stockholders' equity and decrease assets. D) increase stockholders' equity and decrease assets