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Manning, Co. collected 6-months' rent in advance from a tenant on November 1 of the current year. When it collected the cash, it recorded the

Manning, Co. collected 6-months' rent in advance from a tenant on November 1 of the current year. When it collected the cash, it recorded the following entry:

Prepare the required adjusting entry at December 31 of the current year.

Nov. 01 15,000 Cash..... Rent Revenue Earned. 15,000

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