The unearned rent (another name is "deferred rent revenue") account has a balance of $72,000. If $18,000...
The unearned rent (another name is "deferred rent revenue") account has a balance of $72,000. If $18,000 of the $72,000 is unearned at the end of the accounting period, the amount of the adjusting entry is
Group of answer choices
$18,000
$90,000
$36,000
$54,000
Homework Answers
Deferred rent revenue beginning = $72,000
Deferred rent revenue ending = $18,000
Hence, the amount of adjusting entry = Deferred rent revenue beginning - Deferred rent revenue ending
= 72,000-18,000
= $54,000
Fourth option is the correct option.
Kindly comment if you need further assistance. Thanks‼!
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