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Valdosta Real Estate received a check for $24,000 on July 1 which represents a 6 month advance payment of rent on a building it rents

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Valdosta Real Estate received a check for $24,000 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent was credited for the full $24,000. Financial statements will be prepared on July 31. Valdosta Real Estate should make the following adjusting entry on July 31: O Debit Unearned Rent, $4,000; Credit Rent Revenue, $4,000. O Debit Rent Revenue, $4,000: Credit Unearned Rent, $4,000. O Debit Unearned Rent. $24,000; Credit Rent Revenue, $24,000. Debit Cash, $24.000; Credit Rent Revenue, $24,000

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