In November, 20XO, your company sublets space for $500 and receives advance rent of $1,500 for three months-November, December and January-that is credited to Rent Revenue, Before the 20X0 books are closed, you discover that at year-end, 20X0, no adjusting entry was made to Rent Revenue. To correct this omission. .. 14. a. Rent Revenue should be debited for $500. b. Rent Revenue should be debited for $1,000. c. Rent Revenue should be debited for $1,500 d. Rent Received in Advance should be credited for $1,000