On October 1, Vista View Company rented warehouse space to a tenant for $2600 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is:

December 31

Unearned Rent         7800 Dr

      Rent Revenue          7800 Cr

Explanation:

The rent received in advance for 5 months was $13000 and it was recorded as a debit to cash and a credit to unearned rent which is a liability. On 31 December, the rent for 3 months from October to December was earned and it should be recorded as a revenue. The entry would be to debit the unearned rent liability for 3 months worth of rent of $7800 and credit the rent revenue account by the same amount.

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odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.