At the End of December, the Owner of an Apartment

question 103

Multiple Choice

At the end of December, the owner of an apartment complex realized that the December rent had not been collected from one of the tenants. December 31 was the end of the accounting year; therefore, the owner made the appropriate adjusting entry at that time. When the December rent was collected in January of the following year, the entry made by the apartment owner should include which of the following?

• A) debit to Rent receivable.
• B) credit to Rent receivable.
• C) debit to Rent revenue collected in advance.
• D) credit to Rent revenue.

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The collection of guidelines that dictate how information stored in genetic material, whether DNA or RNA sequences, is converted into proteins by living organisms.

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The quality of being universal; applicable or relevant to all cases, conditions, or situations.

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