Tents'n'Tarps Company sets up a large event tent for the local food festival. The tent will be rented to the Business Improvement Association for two weeks for a total cost of $4,400. The event takes place over the Canada Day weekend. So, one week of the rental takes place in June, and the other week is in July. Tents'n'Tarps will bill the Business Improvement Association on July 6 for the two week rental. Record the June 30 adjusting entry to update Tents'n'Tarps's financial records for the one week it has earned rental revenue

Complete the journal entry below. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Accounts

Debit

Credit

Jime 30 adfusting entiy to update lents'n'Tarps's financial tecords for the one wook a has earsid cneted mivinun