(The following information applies to the questions displayed below. On November 1, 2016, Gordon Co. collected $75,600 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30, 2017, at which time the contract may be renewed. value Required infom 1.00 points Required: a-1. Use the horizontal model to record the effect of the six months of rent collected advance on November 1, 2016 for Gordon Co. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Liabilities Income Statement Revenues Assets + Stockholders' Equity Net Income Expenses H a-2. Use the horizontal model to record the effect of the adjustment that will be made at the end of each month to show the amount of rent "earned" during the month for Gordon Co. (Use amounts with + for increases and amounts with for decreases.) Balance Sheet Liabilities Income Statement Revenues Assets Stockholders' Equity Net Income Expenses a-3. Record the journal entry to show the effect of the six months of rent collected in advance on November 1, 2016 for Gordon Co. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the receipt a six-month advance rent payment. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal a-4. Record the journal entry to show the effect of the adjustment that will be made at the end of each month to show the amount of rent "earned" during the month for Gordon Co. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record a reduction in the liability account for rent earned each month. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal b. Calculate the amount of unearned rent that should be shown on the December 31, 2016, balance sheet with respect to this lease. Unearned rent c. If a larger advance collection was received on November 1, 2016, that had covered a longer 18-month lease period (at the same amount of rent per month), how should Gordon Co. report the unearned rent amount on its December 31, 2016, balance sheet? Current liability Noncurrent liability