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Lopez Company received $14,400 on April 1, 2014 for one year's rent in advance and recorded the transaction with a credit to a nominal
Lopez Company received $14,400 on April 1, 2014 for one year's rent in advance and recorded the transaction with a credit to a nominal account. The December 31, 2014 adjusting entry is: debit Unearned Rent Revenue and credit Rent Revenue, $10,800. debit Unearned Rent Revenue and credit Rent Revenue, $3,600. debit Rent Revenue and credit Unearned Rent Revenue, $10,800. debit Rent Revenue and credit Unearned Rent Revenue, $3,600.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short
8th edition
78025559, 978-0078025556
