7.1 On December 01, 2013, an advance rent payment of 12,900, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant.

Required:

Use the horizontal model (or write the journal entries) to record the effects of the following itmes:

a. 7.1 On December 01, 2013, an advance rent payment of 12,900, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant.

Required:

Use the horizontal model (or write the journal entries) to record the effects of the following itmes:

a. The three months of rent collected in advance on December 1, 2013.

b. The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month The three months of rent collected in advance on December 1, 2013.

b. The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month