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Garcia Corporation received cash of $18,000 on August 1, 2022 for one year's rent in...

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Accounting

Garcia Corporation received cash of $18,000 on August 1, 2022 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 2022 adjusting entry is

Group of answer choices

debit Rent Revenue and credit Unearned Rent, $7,500.

debit Rent Revenue and credit Unearned Rent, $10,500.

debit Unearned Rent and credit Rent Revenue, $7,500.

debit Cash and credit Unearned Rent, $10,500.

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