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Author Question: On December 1, Phone Center received $2,400 for two years' rent in advance from Garrison Company. ... (Read 119 times)

mmm

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On December 1, Phone Center received $2,400 for two years' rent in advance from Garrison Company. The December 31 adjusting entry that Phone Center should make is to
◦ debit Unearned Rent; credit Rent Expense $100.
◦ debit Rental Income; credit Unearned Rent $1,200.
◦ debit Cash; credit Rental Income $1,200.
◦ debit Unearned Rent; credit Rental Income $100.


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Marked as best answer by mmm on Nov 11, 2019

jgranad15

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mmm

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Reply 2 on: Nov 11, 2019
YES! Correct, THANKS for helping me on my review


cam1229

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Reply 3 on: Yesterday
Wow, this really help

 

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