Cheyenne Corp. received a check for $15840 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 $15840. Financial statements will be prepared on July 31. Cheyenne should make the following adjusting entry on July 31

Select answer from the options below

debit Rent Revenue, $2640; credit Unearned Rent Revenue, $2640.

debit Unearned Rent Revenue, $2640; credit Rent Revenue, $2640.

debit Cash, $15840; credit Rent Revenue, $15840.

debit Unearned Rent Revenue, $15840; credit Rent Revenue, $15840.