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Current Attempt in Progress Metlock, Inc. received a check for $16200 on July 1,...

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Accounting

Current Attempt in Progress
Metlock, Inc. received a check for $16200 on July 1, which represents a 6-month advance payment of rent on a building it rents to a
client. Unearned Rent Revenue was credited for the full $16200. Financial statements will be prepared on July 31. Metlock should
make the following adjusting entry on July 31
debit Unearned Rent Revenue, $2700; credit Rent Revenue, $2700.
debit Rent Revenue, $2700; credit Unearned Rent Revenue, $2700.
debit Cash, $16200; credit Rent Revenue, $16200.
debit Unearned Rent Revenue, $16200; credit Rent Revenue, $16200.
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