QRT CoReceived $1,560 Advance from Zync Inc

question 114

Multiple Choice

QRT Co.received $1,560 advance from Zync Inc.as rent for the use of a building owned by QRT Co.How does this transaction affect QRT's accounts if QRT recognizes a liability on receipt of the rent?

• A) Cash is increased, and sales revenue is increased.
• B) Cash is increased, and rent income is decreased.
• C) Cash is increased, and unearned rent is increased.
• D) Cash is increased, and prepaid rent is increased.

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Definitions:

Electronically Scanned

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A software application that enables the electronic handling of recruitment and hiring processes by organizing applicant information.

Chronological Resumé

a type of resume that lists work history, education, and other relevant information in reverse chronological order, starting with the most recent experience.

Work History

A record of an individual’s previous employment experiences, including roles, responsibilities, and durations.