Business, 21.03.2020 00:27 gwendallinesikes

Pina Colada Corp. received a check for $19800 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $19800. Financial statements will be prepared on July 31. Pina Colada's should make the following adjusting entry on July 31: 1. debit Rent Revenue, $3300; credit Unearned Rent Revenue, $3300. 2. debit Unearned Rent Revenue, $19800; credit Rent Revenue, $19800. 3. debit Unearned Rent Revenue, $3300; credit Rent Revenue, $3300.4. debit Cash, $19800; credit Rent Revenue, $19800.

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Pina Colada Corp. received a check for $19800 on July 1, which represents a 6-month advance payment...

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