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Upsilon Corp. had a vacant warehouse that it rented out to Omnicron Distributers for a...

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Accounting

Upsilon Corp. had a vacant warehouse that it rented out to Omnicron Distributers for a monthly rent of $9,900. During December 2019, Upsilon collected $7,000 cash from Omnicron for the December 2019 rent. Which of the following is correct with respect to the December 2019 financial statements of Upsilon Corp?

$9,900 would appear on the income statement as rent revenue earned.??

$9,900 would appear on the balance sheet as rent receivable.

$9,900 would be reported on the statement of cash flows.

$7,000 would appear on the balance sheet as prepaid rent.

$7,000 would appear on the balance sheet as unearned rent revenue.

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