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+961 76 915 030 Ahmad Traboulssi W On September 1, ABL Real Estate Company received cash for $60,000 from a customer that represents a 6-month
+961 76 915 030 Ahmad Traboulssi W On September 1, ABL Real Estate Company received cash for $60,000 from a customer that represents a 6-month advance payment of renting a building. On September 1, the unearned rent revenue was credited for the full $60,000. The financial statements are prepared on September 30. What should be the adjusting entry recorded by ABL Real Estate Company on September 30? a. Debit Rent Revenue $10,000, Credit Unearned Rent Revenue $10,000 b. Debit Cash $60,000, Credit Rent Revenue $60,000 C. Debit Unearned Rent Revenue $60,000, Credit Rent Revenue $60,000 d. Debit Unearned Rent Revenue $10,000, Credit Rent Revenue $10,000 9:30 AM
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