4 Jordan Real Estate received a check for J0024,000 on July 1 which represents a 6...
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4 Jordan Real Estate received a check for J0024,000 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Monthly financial statements will be prepared on July 21 Jordan Real Estate should make the following adjusting entry on July 31 Debt Unearned Rent, JOD4,000: Credit Rental Revenue, JOD4,000 Debit Rent expense, JOD4,000; Credit Prepaid rent, JOD4,000 O Debit Rental Revenue, JOD4,000, Credit Unearned Rent, JOD4,000. O Debit Unearned Rent, JOD24.000: Credit Rental Revenue. JOD24.000 O Debit Prepaid rent. JOD4,000. Credit Rent expense, JO04,000 4 Jordan Real Estate received a check for J0024,000 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Monthly financial statements will be prepared on July 21 Jordan Real Estate should make the following adjusting entry on July 31 Debt Unearned Rent, JOD4,000: Credit Rental Revenue, JOD4,000 Debit Rent expense, JOD4,000; Credit Prepaid rent, JOD4,000 O Debit Rental Revenue, JOD4,000, Credit Unearned Rent, JOD4,000. O Debit Unearned Rent, JOD24.000: Credit Rental Revenue. JOD24.000 O Debit Prepaid rent. JOD4,000. Credit Rent expense, JO04,000
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