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Eagle Leasing received $180,000 from a customer to cover 24 months of rent in advance. How should Eagle record this transaction? Eagle employs accrual accounting.

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Eagle Leasing received $180,000 from a customer to cover 24 months of rent in advance. How should Eagle record this transaction? Eagle employs accrual accounting. Select one: a. Debit Cash; credit Deferred Revenue O b. Debit Cash; credit Service Revenue OC. Debit Rent Expense; credit Cash Od Debit Prepaid Rent; credit Rent Expense Oe. Debit Prepaid Rent; credit Cash

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