Joe Received $4,000 in Advance for Renting Part of His

question 93

Multiple Choice

Joe received $4,000 in advance for renting part of his building. What is the entry to record the receipt of payment?

• A) Debit Cash; credit Rent Expense
• B) Debit Cash; credit Prepaid Rent
• C) Debit Cash; credit Unearned Rent
• D) Debit Cash; credit Rental Income

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Definitions:

Sense of Idealism

The capacity or tendency to envision things in their perfect form or to pursue ideals, often manifesting in young adults as a desire to improve the world.

Personal Fable

A concept in adolescent psychology where an individual believes their thoughts, feelings, and experiences are unique and exceptional.

Sense of Autonomy

An individual's perception of their capacity to make independent choices and exercise control over their own life.

Period of Rebellion

A phase often associated with adolescence in which an individual challenges authority, norms, and conventional behaviors as a part of their identity development.