Mullins Real Estate received a check for $30,000 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $30,000. Financial statements will be prepared on July 31. Mullins Real Estate should make the following adjusting entry on July 31:

Debit Rent Revenue, $5,000; Credit Unearned Rent Revenue, $5,000.

Debit Cash, $30,000; Credit Rent Revenue, $30,000.

Debit Unearned Rent Revenue, $30,000; Credit Rent Revenue, $30,000.

Debit Unearned Rent Revenue, $5,000; Credit Rent Revenue, $5,000.