Lopez Company received $6,400 on April 1, 2017 for one year's rent in advance and...
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Accounting
Lopez Company received $6,400 on April 1, 2017 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 2017 adjusting entry is:
Select one:
a.
Debit Rent Revenue and credit Unearned Rent, $4,800
b.
Debit Unearned Rent and credit Rent Revenue, $1,600
c.
Debit Unearned Rent and credit Rent Revenue, $4,800
d.
Debit Unearned Rent and credit Rent Revenue, $6,400
e.
Debit Rent Revenue and credit Unearned Rent, $1,600
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