Boone Realty Management Co. received a check for $30,000 on October 1, which represents a one year advance payment of rent on an office it rents to a client. Financial statements are prepared on December 31. The appropriate adjusting journal entry to make on December 31 of the first year would be. Assume adjusting entries are made at year end only. Select one: O Unearned rent revenue 7,500 Rent revenue 7,500 O Rent revenue 7,500 Unearned rent revenue O Cash 2,500 Rent revenue 2500 Rent revenue 2,500 Unearned rent revenue 2500 7,500