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On January 1, Skyline Co. received $12,000 in cash from a tenant who is renting office space. The payment represents rent for January, February,
On January 1, Skyline Co. received $12,000 in cash from a tenant who is renting office space. The payment represents rent for January, February, and March. What journal entry should Skyline make on February 28? Debit rent revenue $4,000, credit prepaid rent $4,000 Debit deferred revenue $4,000, credit rent revenue $4,000 Debit prepaid expense $4,000, credit rent revenue $4,000 Debit prepaid rent $3,000, credit rent revenue $3,000
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