Question
On July 1, Madrid Corporation received $10,200 from New Iberia Company for six months' rent on a factory building and recorded it as revenue. What
On July 1, Madrid Corporation received $10,200 from New Iberia Company for six months' rent on a factory building and recorded it as revenue. What adjusting entry will Madrid make on August 31? (Do not round intermediary calculations. Only round your final answer to the nearest dollar.)
Prepaid Rent6,800
Rent Revenue6,800
Rent Revenue6,800
Unearned Rent Revenue6,800
Unearned Rent Revenue3,400
Rent Revenue3,400
Rent Revenue3,400
Unearned Rent Revenue3,400
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
17th Edition
1260247783, 978-1260247787
