Cancel Select subject Q Search subjects Accounting Advanced Math Advanced Physics Algebra Anatomy and Physiology Biology Calculus Chemical Engineering Chemistry Civil Engineering Computer Science Earth Sciences If business pays rent in advance and debits a Prepaid Rent account, the company receiving the rent payment will credit: * Cash O Prepaid rent Unearned rent revenue Accrued rent revenue If a business has received cash in advance of services performed and credits a liability account, the adjusting entry needed after the services are performed will be: * Debit Unearned Revenue and credit Cash O Debit Unearned Revenue and credit Service Revenue O Debit Unearned Revenue and credit Prepaid Expense Debit Unearned Revenue and credit Accounts Receivable