On, December 1, 2022 Rock Castle Construction received $3,000 for unused storage space it leased to a subcontractor. The entire amount was recorded in the Checking account and as unearned rental revenue. The $3,000 payment was for three months of rent, beginning December 1, 2022. So an adjusting entry is needed to bring accounts up to date at December 31 and record the amount of rent revenue that has been earned as of December 31.

Use Entry No. ADJ2022.3. Use the following accounts to make the adjusting entry:

21000 Unearned Revenue

40600 Rent Revenue