Hi can you please help me with just one question ( Number 2)

Use the Dynamic Exhibit to answer the following questions.

1. The insurance premium in the exhibit covers a period of

1. one year
2. six months
3. two years

Answer is A

2. Using the version for Unearned Rent, you can determine that monthly rent revenue on the land is $?

Help with question 2

3. Two entries are displayed for which version of the exhibit?

1. Fees Earned $15,000, Received customer payment on account $9,000
2. Unearned Rent $1,800
3. Fees Earned $15,000, Received customer payment on account $0
4. Prepaid Insurance $7,500

Answer is A

4. The version of the exhibit with an entry to asset accounts only is

1. Unearned Rent $1,800
2. Prepaid Insurance $7,500
3. Fees Earned $15,000, Received customer payment on account $9,000
4. Fees Earned $15,000, Received customer payment on account $0

Answer is B

nything Ghost Sh... N Netflix TOM Watch Turner Classi... @ Montefiore Login y! The Podcast - Lore school O Mail - Myrlande Du... M Inbox (12,851) - my... Home Page | CEN... Unearned Rent October 1: Received $1,800 rent payment for the three month period beginning October 1. Prepaid Insurance $7,500 Unearned Rent $1,800 Fees Earned $15,000 Move the slider to change the values. Unearned rent received for 3 months Click on to view the information. By agreeing to rent the land and accepting the $1,800, the company has incurred an obligation (liability) to the renter. This obligation is to make the land available for use for three months and not to interfere with its use. The liability created by receiving the cash in advance of providing the service is called unearned revenue. As time passes, the unearned rent liability will decrease and will become revenue. Thus, this transaction is recorded as a $1,800 increase (debit) to Cash and a $1,800 increase (credit) to Unearned Rent. Close Journal Page 01 Date Description Post. Ref. Debit Credit Oct. 1 Cash 11 1,800 Unearned Rent 23 1,800 Received advance payment for three months' rent on land. Assets Liabilities Owner's Equity Cash 11 Unearned Rent 23 Oct. 1 1,800 Oct. 1 1,800