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Waterway Industries received cash of $35400 on September 1, 2020 for one years rent in advance and recorded the transaction with acred it to Unearned

Waterway Industries received cash of $35400 on September 1, 2020 for one year’s rent in advance and recorded the transaction with acred it to Unearned Rent Revenue. The December 31, 2020 adjusting entry is

debit Cash and credit Unearned Rent Revenue, $23600.

debit Unearned Rent Revenue and credit Rent Revenue, $11800.

debit Rent Revenue and credit Unearned Rent Revenue, $11800.

debit Rent Revenue and credit Unearned Rent Revenue, $23600.

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