On December 1,2018,Shamrock Company Received $3,600 from Destiny,Inc

question 80

Multiple Choice

On December 1,2018,Shamrock Company received $3,600 from Destiny,Inc.for rent of an office owned by Shamrock Company.The payment covers the period from December 1,2018 through February 28,2019.Shamrock Company recorded this as Deferred Rent Revenue when it was received on December 1.The adjusting entry on December 31 would include a:

• A)credit to Rent Revenue of $1,200.
• B)credit to Deferred Rent Revenue of $1,200.
• C)debit to Rent Revenue of $1,800.
• D)debit to Deferred Rent Revenue of $1,800.

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Definitions:

Price Discrimination

A pricing strategy where different prices are charged to different consumers for the same product or service, often based on their willingness to pay.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, often based on their willingness to pay.

Hardcover Books

Books characterized by rigid covers and spine, typically designed for durability and long-term use.