The T account for Unearned Rent appeared as follows after posting from the journal: Unearned Rent...
The T account for Unearned Rent appeared as follows after
posting from the journal:
| Unearned Rent | 23 | ||
| Dec. 1 | 1,800 | ||
Which of the following is a correct statement about the journal
entry that was posted?
a.The debit portion of the entry was likely to be Accounts Receivable.
b.The entry explanation likely read "Paid rent in advance."
c.The account title should read Unearned Rent Receivable.
d.A "23" was entered in the Post. Ref. column of the journal.
Homework Answers
Answer :- A "23" was entered in the Post. Ref. Column of the journal.
The debit for an unearned revenue transaction would be to the asset of cash. The entry explanation would likely read " Rental Income received in advance ".
So the correct answer is option D.
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