a) What if, for P3-4B, event 2, the $429,000 balance was in Rental Revenue instead of Unearned Revenue? In other words, Khan Co. credits Rental Revenue when they receive a payment from a lessee. Under this scenario, prepare the required adjusting journal entries on December 31, 2017.

b) What if, for P3-4B, instead of an annual accounting period, Khan Company had monthly accounting periods? Prepare the adjusting entries for events 2, 3, and 4 for the month ending December 31, 2017. Ignore a) above.