Question
On August 1, a company received cash of $9,324 for one years rent in advance and recorded the transaction on that day as a credit
On August 1, a company received cash of $9,324 for one years rent in advance and recorded the transaction on that day as a credit to rent revenue.
The amount (value) to be recorded on December 31 adjusting entry would be:
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Management Accounting
Authors: Anthony A. Atkinson, Robert S. Kaplan, S. Mark Young, Rajiv D. Banker, Pajiv D. Banker
3rd Edition
9780130101952
