Question
On September 1, your calendar year company rents a machine to another firm for $24,000 a year. As of December 31, $17,000 has been received
On September 1, your calendar year company rents a machine to another firm for $24,000 a year. As of December 31, $17,000 has been received and recorded in Rent Revenue. What adjusting entry do you record at year end?
a. Rent Revenue 9,000
Unearned Rent Revenue 9,000
b. Rent Revenue 8,000
Unearned Rent Revenue 8,000
c. Rent Revenue 9,000
Accounts Receivable 9,000
d. Unearned Rent Revenue 8,000
Rent Revenue 8,000
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Lean Audit The 20 Keys To World Class Operations A Health Check For Factory And Office
Authors: Joerg Muenzing
1st Edition
1514817829, 978-1514817827
