On November 1, the company rented space to another tenant. A check in the amount of $9,000, representing three months’ rent in advance, was received from the tenant on that date. The tenant occupied the space on November 1. The payment was recorded with a credit to the Unearned Revenue account. Complete the necessary adjusting journal entry for December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Homework Answers
Solution :-
Adjusting entry to record rent revenue as on December 31st.
Date General journal Debit Credit
Dec.31st. Unearned rent revenue $6000
( 9000×2m/3m )
Rent revenue $6000
( To record insurance expense )
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On November 1, the company rented space to another tenant. Acheck in the amount of...
On November 1, the company, rented space to another tenant. A check in the amount of $9,000,
Journal Entry On November 1, the company, rented space to another tenant. A check in the amount of $9,000, representing three months' rent in advance, was payment was recorded with a credit to the Unearned Rent Revenue account. Complete the necessary adjusting entry for December 31 by selecting the account names and dollar amounts from the drop-down menus.
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i cant figure out what either of the credit or debit numbers would be. could anyone...
i cant figure out what either of the credit or debit numbers would
be. could anyone help explain what the answer would be or how to
find said answer?
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i cant figure out what either of the credit or debit numbers would
be. could anyone help explain what the answer would be or how to
find said answer?
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