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Swifty Real Estate received a check for $27900 on July 1 which represents a 6 month advance payment of rent on a building it
Swifty Real Estate received a check for $27900 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $27900. Financial statements will be prepared on July 31. Swifty Real Estate should make the following adjusting entry on July 31: Debit Unearned Rent Revenue. $27900; Credit Rent Revenue, $24800. O Debit Rent Revenue, $4650; Credit Unearned Rent Revenue, $4650. O Debit Unearned Rent Revenue, $4650; Credit Rent Revenue, $4650. O Debit Cash, $27900; Credit Rent Revenue, $27900.
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