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On August 1, Russell Company received $22,800 for six months of rent in advance. Russell Company recorded the transaction by debiting Cash and crediting Deferred

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On August 1, Russell Company received $22,800 for six months of rent in advance. Russell Company recorded the transaction by debiting Cash and crediting Deferred Rent Revenue. Required: Joumalize the adjusting entry on December 31. Date Account Title Det Credit Dec. 31

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