On October 1, 2021 Adam Realty collected P28,000 from a tenant representing an advance collection from building rentals for one year. The accounting period ends on December 31, 2021. The amount of Unearned Rent Income for December 31, 2021 is? O 21,000 O 7,000 O 28,000

On October 1, 2021 Adam Realty collected P28,000 from a tenant representing an advance collection from building rentals for one year. The accounting period ends on December 31, 2021. The amount of Unearned Rent Income for December 31, 2021 is? O 21,000 O 7,000 O 28,000

Name: On October 1, 2021 Adam Realtycollected P28,000 from a tenantrepresen
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Description: On October 1, 2021 Adam Realtycollected P28,000 from a tenantrepresenting an advance collectionfrom building rentals for one year. Theaccounting period ends on December31, 2021. The amount of UnearnedRent Income for December 31, 2021is?21,000O 7,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 9MC

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