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Pappy Corporation received cash of $18,000 on September 1, 2012 for one year's rent in advance and recorded the transaction with a credit to Unearned

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Pappy Corporation received cash of $18,000 on September 1, 2012 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent Revenue. The December 31, 2012 adjusting entry is debit Rent Revenue and credit Unearned Rent Revenue, $6,000. debit Rent Revenue and credit Unearned Rent Revenue, $12,000. debit Unearned Rent Revenue and credit Rent Revenue, $6,000, debit Cash and credit Unearned Rent Revenue, $12,000

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