Cheyenne Corp. received a check for $15,840 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $15,840. Financial statemens will be prepared on July 31. Cheyenne should make the following adjusting entry on July 31.

A. debit Unearnd Rent Revenue, $2640; credit Rent Revenue, $2640

B. debit Cash, $15,840; credit Rent revenue, $15,840.

C. debit Rent Revenue, $2,640; credit unearned Rent Revenue, $2,640

D. debit unearned Rent Revenu, $15,840; credit Rent Revenue, $15,840