On June 1, 2014, Little Corporation Received $5,320 in Advance

question 47

Multiple Choice

On June 1, 2014, 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, 2014, there would be a

• A) debit to Unearned Rent for $1108
• B) credit to Rent Revenue for $1552
• C) credit to Unearned Rent for $1552
• D) debit to Unearned Rent for $5,320

---

Definitions:

Cultural Hybridity

A concept referring to the mixing and blending of different cultures, traditions, and identities.

Developing Nations

Countries that are in the process of industrialization and have lower levels of material well-being compared to developed countries.

Commercial Media

Media outlets that are primarily funded through advertising and subscriptions, aiming at generating profit and catering to broad audiences.

Private Investment

The use of private individual or corporate funds to invest in assets with the expectation of generating financial returns.