Lopez Company Received $14,400 on April 1, 2014 for One

question 27

Multiple Choice

Lopez Company received $14,400 on April 1, 2014 for one year's rent in advance and recorded the transaction with a credit to a nominal account. The December 31, 2014 adjusting entry is

• A) debit Rent Revenue and credit Unearned Rent Revenue, $3,600.
• B) debit Rent Revenue and credit Unearned Rent Revenue, $10,800.
• C) debit Unearned Rent Revenue and credit Rent Revenue, $3,600.
• D) debit Unearned Rent Revenue and credit Rent Revenue, $10,800.

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Definitions:

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