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On August 1, 2021, Grasshopper collected $27,000 in advance rent from another company that is renting a portion of Grasshoppers building. The $27,000 represents one
On August 1, 2021, Grasshopper collected $27,000 in advance rent from another company that is renting a portion of Grasshoppers building. The $27,000 represents one years rent, and the entire amount was credited to Deferred Revenue." the answer provided says to list rent income on the balance sheet to be credited but that isnt a possible answer for me. I have tried prepaid rent and cash and they were both wrong. what is the answer?
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