Consider the following independent situations at December $31$:

Journalize the adjusting entry needed on December$31$ for each situation assuming the company only records adjusting entries at the end of the year. Use the letters to label the journal entries. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

a$.$ On June $1,$ a business collected $$10,800$ rent in advance, debiting Cash and crediting Unearned Revenue. The tenant was paying one year's rent in advance. On December $31,$ the business must account for the amount of rent it has earned.