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Question 3 Rachel runs a bookstore. She also owns 3 shop spaces which is rented out to earn rental income All payments and receipts are

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Question 3 Rachel runs a bookstore. She also owns 3 shop spaces which is rented out to earn rental income All payments and receipts are made by cheque. The following information were extracted from the business' books for the year ended 31 July 2020. Rental income receivable as at 1 August 2019 Rental income receivable as at 31 July 2020 Rental income earned for the year ended 31 July 2020 $ 10 300 7 500 33 000 Prepare all journal entries needed to record rental income for the year ended 31 July 2020. Journal

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