Homework Answers
Answer
- No of months till 31 Dec since 1st Oct = 3 months.
- Rent revenue earned for 3 months = $ 925 x 3 months = $ 2,775
- Adjusting entry:
Correct Answer = Option #3
[Debit] Unearned Rent for $ 2775
[Credit] Rent Revenue $ 2775
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