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On October 1, 20x3, Larry Leases for Less rented a building to Peter Piper's Pepper Company at $2,700 per month On October 1, Peter paid
On October 1, 20x3, Larry Leases for Less rented a building to Peter Piper's Pepper Company at $2,700 per month On October 1, Peter paid for five months' rent in advance, and Peter moved into the building right away. Larry recorded the receipt of cash receipt as a credit to Unearned Rent. What is Larry's required adjusting entry on December 317 Multiple Choice Debit Unearned Rent, $8100, credit Rent Earned, 58,100. Debit Uneamed Rent. $5,400, credit Rent Earned, 55,400. Debit Rent Receivable, $8.100credit Rent Eamed, $8,100, Debit Rent Receivable, $13,500; credit Rent Earned, $13,500. Debit Unearned Rent, $13,500; credit Rent Earned, $13.500
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