Unearned rent:         Balance beginning of the year               P11,000         Balance end of year                               15,000 Warehouse quarterly rent received in advance is P18,000.  During the year, equipment was rented to another company at an annual rent of P9,000.  The quarterly rent payments were credited to Rent Income; the annual equipment rental was credited to Unearned Rent. What is the appropriate adjusting entry?

Q: 9-13

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