Q1: On October 1, your company receives a $75,000 advance for 1 year's rent that you record in Rent Revenue. If your company uses the calendar year and the accrual basis, what adjusting entry will you record on December 31?

a )debit Unearned Rent Revenue for $56,250; credit Rent Revenue for $56,250

b )debit Rent Revenue for $56,250; credit Unearned Rent Revenue for $56,250

c )debit Rent Revenue for $18,750; credit Unearned Rent Revenue for $18,750

d )debit Unearned Rent Revenue for $18,750; credit Rent Revenue for $18,750

Q2) On October 1, your company receives a $75,000 advance for 1 year's rent that you record in Unearned Rent Revenue. If your company uses the calendar year and the accrual basis, what adjusting entry will you record on December 31?

a) debit Unearned Rent Revenue for $56,250; credit Rent Revenue for $56,250

b) debit Rent Revenue for $18,750; credit Unearned Rent Revenue for $18,750

c) debit Rent Revenue for $56,250; credit Unearned Rent Revenue for $56,250

d) debit Unearned Rent Revenue for $18,750; credit Rent Revenue for $18,750

Please answer these questions as soon as possible, and please it is a request only answer if you can calculate the correct answer for both of these questions, please consider my request I am already failing the semester.

Thank you IA.