On June 1, 2015, Little Corporation Received $5,320 in Advance

question 37

Multiple Choice

On June 1, 2015, Little Corporation received $5,320 in advance for a two-year rental of some land and properly credited Unearned Rent. In the adjusting entry at December 31, 2015, there would be a

• A) debit to Unearned Rent for $1,108
• B) credit to Rent Revenue for $1,552
• C) credit to Unearned Rent for $1,552
• D) debit to Unearned Rent for $5,320

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