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On October 1, Diaz Company received $30,300 for six months of rent in advance. On October 1, Diaz Company credited Rent Revenue, which is an

On October 1, Diaz Company received $30,300 for six months of rent in advance. On October 1, Diaz Company credited Rent Revenue, which is an alternate way of recording the initial receipt of cash. Required: Journalize the adjusting entry on December 31.

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