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On December 1, 2019, an advance rent payment of $11,400, representing a three-month prepayment for the months of December, January, and February, was received in

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On December 1, 2019, an advance rent payment of $11,400, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant. Required: Complete the below table. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Use the horizontal model to record the effects of the following items! a. The three months of rent collected in advance on December 1, 2019 Balance Sheet Assets Liabilities Cash Uneamed rent revenue Stockholders' Equity Not Income b. The adjustment that will be made at the end of each month to show the amount ofront "oarned" during the month. Balance Sheet Assets Liabilities Stockholders' Equity Rent revenue Uneamed rent revenue Not Income Income Statement Revenues Expenses Income Statement Revenues + 8,600 = = Expenses

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