A Review of the Accounting Records Discovered That Unearned Rent $$\begin{array} { | c | r | r | } \hline \text { Rent revenue } & 700 & \\\hline \text { Cash } & & 700 \\\hline\end{array}$$

question 48

Multiple Choice

A review of the accounting records discovered that unearned rent revenue received from a client in the amount of $1,500 had been incorrectly recorded as $2,200. Which of the following journal entries will correct the ledger accounts?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Rent revenue } & 700 & \\
• \hline \text { Cash } & & 700 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts payable } & 700 & \\
• \hline \text { Rentrevenue } & & 700 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Rent revenue } & 700 & \\
• \hline \text { Uneamed rent revenue } & & 700 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Unearned rent revenue } & 700 & \\
• \hline \text { Cash } & & 700 \\
• \hline
• \end{array}\]

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Definitions:

Standard Two-week Notice

The conventional period of notice an employee gives to their employer before resigning from their job.

Forward-looking Statement

Projections or predictions about future events or performances, often found in financial contexts, and subject to uncertainties.

Communication Channel

The medium through which a message is transmitted from sender to receiver, such as email, phone, or face-to-face interaction.

Intrusive

Invading someone's space or privacy in an unwelcome and often annoying manner.