Unearned revenues-rent. On December 1, 2013, an advance rent payment of $12,900, representing a three-month prepayment for

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Unearned revenues-rent. On December 1, 2013, an advance rent payment of $12,900, representing a three-month prepayment for the months of December, January, and February, was received in cash from the company's tenant.

Required:

Use the horizontal model (or write the journal entries) to record the effects of the following items:

a. The three months of rent collected in advance on December 1, 2013.

b. The adjustment that will be made at the end of each month to show the amount of rent "earned" during the month.

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Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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Question Posted: Oct 05, 2013 01:43 AM

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Unearned revenues-rent. On December 1, 2013, an advance rent payment of $12,900, representing a three-month prepayment for

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Accounting What the Numbers Mean

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