Business, 19.05.2020 18:00 clipsyden

Vaughn Manufacturing received cash of $63600 on August 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 2017 adjusting entry is:

A. debit Cash and credit Unearned Rent Revenue, $37100.
B. debit Unearned Rent Revenue and credit Rent Revenue, $26500.
C. debit Rent Revenue and credit Unearned Rent Revenue, $26500.
D. debit Rent Revenue and credit Unearned Rent Revenue, $37100.

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Vaughn Manufacturing received cash of $63600 on August 1, 2017 for one year's rent in advance and re...

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