Wildhorse Co. received a check for $25920 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client Unearned Rent Revenue was credited for the full $32400. Financial statements will be prepared on July 31. Wildhorse's should make the following adjusting entry on July 31: debit Unearned Rent Revenue, $25920; credit Rent Revenue, $25920. debit Unearned Rent Revenue, $4320; credit Rent Revenue, $4320 debit Cash, $25920; credit Rent Revenue, $25920 debit Rent Revenue, $4320; credit Unearned Rent Revenue, $4320