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Question 44 (4 points) Golden Rams Company received cash of $12,000 for one year's rent in advance and recorded the transaction with a credit to

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Question 44 (4 points) Golden Rams Company received cash of $12,000 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent Revenue. The adjusting entry needed at December 31, 2020 is Debit- - Rent Revenue, 5,000; Credit- -Unearned Rent Revenue, 5,000 Debit--Rent Receivable, 12,000; Credit- -Unearned Rent Revenue, 12,000 Debit--Unearned Rent Revenue, 5,000; Credit- - Rent Revenue, 5,000 Debit--Unearned Rent Revenue, 12,000; Credit- - Rent Receivable, 12,000 Question 45 (4 points) On October 1, 2020, Golden Rams Company loaned $60,000 to the Peace Hall Company and accepted a one-year, 6% interest-bearing note. The adjusting entry needed at December 31, 2020 is Debit- - Interest Receivable, 900; Credit- - Interest Revenue, 900 Debit- - Notes Receivable, 60,000; Credit- -Cash 60,000 Debit--Interest Receivable, 3,600; Credit- - Interest Revenue, 3,600

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