8) Rent Income account has a credit balance of 240,000 composed of the following: Rental for three months ending March 31, 2020, 45000 A credit of 195,000 representing advance rental payment for one...


8) Rent Income account has a credit balance of 240,000 composed of the following:<br>Rental for three months ending March 31, 2020, 45000<br>A credit of 195,000 representing advance rental payment for one year beginning April<br>1<br>The December 31 adjusting entry will require a debit to rent income and a credit to<br>Unearned Rent of?<br>A 45000<br>B 191250<br>C 48750<br>D 195000<br>

Extracted text: 8) Rent Income account has a credit balance of 240,000 composed of the following: Rental for three months ending March 31, 2020, 45000 A credit of 195,000 representing advance rental payment for one year beginning April 1 The December 31 adjusting entry will require a debit to rent income and a credit to Unearned Rent of? A 45000 B 191250 C 48750 D 195000

Jun 11, 2022
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