b. an asset or contra asset account and an expense account ca liability account and an expense account. a receivable account and a revenue account Pappy Corporation received cash of $36,000 on September 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent Reve December 31, 2017 adjusting entry is a. debit Rent Revenue and credit Unearned Rent Revenue, $12,000. b. debit Rent Revenue and credit Unearned Rent Revenue, $24,000. 10. b,000 36 debit Unearned Rent Revenue and credit Rent Revenue, $12,000. d. debit Cash and credit Unearned Rent Revenue, $24,000 11. Th e income statement provides investors and creditors with information to predict all of the following except the: amount of future cash flows. . sources of future cash flows. c. timing of future cash flows d. uncertainty of future cash flows. 2. Which of the following is an advantage of the single-step income statement over the multiple-step income statement? a. It reports gross profit for the year. b. Expenses are classified by function. c. It matches costs and expenses with related revenues. It does not imply that one type of revenue or expense has priority over another