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Shamrock, Inc. owns a warehouse. On September 1, it rented storage space to a lessee (tenant) for six months for a total cash payment of

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Shamrock, Inc. owns a warehouse. On September 1, it rented storage space to a lessee (tenant) for six months for a total cash payment of $12, 900 received in advance. Prepare Shamrock, Inc.'s September 1 journal entry and the December 31 annual adjusting entry, assuming that the initial cash receipt on September l is treated as a liability

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