Example 4a: College Rentals, Inc. receives

$1,800

for 6 months' rent from a tenant on November

1,20x1

, with the original journal entry crediting a real account. Determine the original journal entry; then provide the necessary adjusting entry on December 31 , 20X1.\

(1800)/(6)=

\ Suppose the company forgot to do the adjusting entry. How would the assets, liabilities, equity, and net income be affected in 20X1 and 20X2?\ \\\\table[[ets,Liabilities,Equity,NI,Assets,Liabilities,Equity,NI],[

(1)/(20)\\\\times 1

,

(12)/(31)/20\\\\times 1

,

(12)/(31)/20\\\\times 1

,

20\\\\times 1

,

(12)/(31)/20\\\\times 2

,

(12)/(31)/20\\\\times 2

,

(12)/(31)/20\\\\times 2

,

20\\\\times 2

Example 4a: College Rentals, Inc. receives $1,800 for 6 months' rent from a tenant on November 1,20Xl, with the original journal entry crediting a real account. Determine the original journal entry; then provide the necessary adjusting entry on December 31 , 20X1. Suppose the company forgot to do the adjusting entry. How would the assets, liabilities, equity, and net income be affected in 20X1 and 20X2 ? Example 4b: Now, suppose the initial journal entry credited a nominal account