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adjusting entries ch 4 q 5 Your company receives a $75,000 advance for 1 year's rent that you record in Rent Received In Advance. If,

adjusting entries ch 4
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Your company receives a $75,000 advance for 1 year's rent that you record in Rent Received In Advance. If, at year end, 3 months have elapsed, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. Rent Received in Advance 18,750 Rent Revenue 18,750 b. Rent Revenue 56,250 Rent Received in Advance 56,250 O c. Rent Received in Advance 56,250 Rent Revenue 56,250 d. Rent Revenue 18,750 Rent Received in Advance 18,750 Check

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