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Lopez Company received $6,400 on April 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent. The
Lopez Company received $6,400 on April 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent. The December 31, 2017 adjusting entry is:
Select one:
a.Debit Rent Revenue and credit Unearned Rent, $4,800
b.Debit Unearned Rent and credit Rent Revenue, $1,600
c.Debit Unearned Rent and credit Rent Revenue, $4,800
d.Debit Unearned Rent and credit Rent Revenue, $6,400
e.Debit Rent Revenue and credit Unearned Rent, $1,600
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