Step 1: A coffee shop company is started on May 1, 2008. On May 15th, a portion of the store is rented out to a pizza entrepreneur. The 1-year lease is for $1,500 per month, with two months rent payable in advance. How do you record this in the T accounts?

Step 2: An adjusting entry for May is as follows - Recognize revenue from lease with pizza entrepreneur. How do you record this in the T accounts?