Waterway Industries received cash of $39600 on September 1, 2020 for one years rent in advance and recorded the transaction with a credit to Unearned Rent Revenue. The December 31, 2020 adjusting entry is

debit Rent Revenue and credit Unearned Rent Revenue, $26400. debit Unearned Rent Revenue and credit Rent Revenue, $13200. debit Rent Revenue and credit Unearned Rent Revenue, $13200. debit Cash and credit Unearned Rent Revenue, $26400.

Matthew recently was offered a position with a major accounting firm. The firm offered Matthew either a signing bonus of $29500 payable on the first day of work or a signing bonus of $32500 payable after one year of employment. Assuming that the relevant interest rate is 11%, which option should Matthew choose?

The options are equivalent. Insufficient information to determine. The signing bonus of $29500 payable on the first day of work. The signing bonus of $32500 payable after one year of employment.