On June 1, 20Y2, Herbal Co. received $18.900 for the rent of land for 12 months.
On June 1, 20Y2, Herbal Co. received $18.900 for the rent of land for 12 months.
Journalize the acusting entry required for neamed rent on December 31, 20Y2. Refer to the Chart of Accounts for exact wording of account titles.
Journalize the adjusting entry required for unearned rent on December 31, 2072. Refer to the Chart of Accounts for exact wording of account titles.
Homework Answers
| Date | Description | Post Ref. | Debit | Credit | Assets | Liability | Equity |
| Dec 31 | Unearned Rent | 11,025 | ↑ | ||||
| Rent Revenue | 11,025 | ↑ | |||||
| (18,900 x 7/12) | |||||||
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