Sunland Company's account balances at December 31, 2020 for Accounts Receivable and the related Allowance for Doubtful Accounts are $924000 debit and $1970 credit, respectively. From an aging of accounts receivable, it is estimated that $40900 of the December 31 receivables will be uncollectible. The necessary adjusting entry would include a credit to the allowance account for

$42870.

$1970.

$38930.

$40900.

Sunland Company sublet a portion of its warehouse for five years at an annual rental of $72300, beginning on May 1, 2020. The tenant, Susan Wilson, paid one year's rent in advance, which Sunland recorded as a credit to Unearned Rent Revenue. Sunland reports on a calendar-year basis. The adjustment on December 31, 2020 for Sunland should be

Unearned Rent Revenue	24100
Rent Revenue		24100

Rent Revenue	24100
Unearned Rent Revenue		24100

Unearned Rent Revenue	48200
Rent Revenue		48200

No entry

Oriole Company had revenues of $332000, expenses of $216000, and dividends of $46500. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a

credit of $69500.

debit of $69500.

credit of $116000.

debit of $116000.