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On October 1, Synergy Corp. received $2,000 from Excellent Company as rent for the use of its land as a temporary parking lot from October
On October 1, Synergy Corp. received $2,000 from Excellent Company as rent for the use of its land as a temporary parking lot from October 20Y5 through March 20Y6. Synergy Corp. records this transaction as:
a.an increase in Cash and an increase in a liability for $2,000.
b.a decrease in Cash and a decrease in Prepaid Rent for $2,000.
c.a decrease in Cash and a decrease in Unearned Revenue for $2,000.
d.a decrease in Cash and a decrease in a liability for $2,000.
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