On August 1,20Y1, Newhouse Co. received $20,040 for the rent of land for 12 months. Journalize the adjusting entry required for unearned rent on December 31, 20Y1. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Journalize the adjusting entry required for unearned rent on December 31, 20Y1. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not u. lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered