Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service. a.Prepaid Rent, debit; Rent Revenue, credit. b.Cash, debit; Prepaid Rent, credit. c.Cash, debit; Rent Expense, credit. d.Cash, debit; Unearned Rent, credit.
Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service. a.Prepaid Rent, debit; Rent Revenue, credit. b.Cash, debit; Prepaid Rent, credit. c.Cash, debit; Rent Expense, credit. d.Cash, debit; Unearned Rent, credit.
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 10MC: Which account would be credited when closing the account for rent expense for the year? A. Prepaid...
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Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service.
a.Prepaid Rent, debit; Rent Revenue, credit.
b.Cash, debit; Prepaid Rent, credit.
c.Cash, debit; Rent Expense, credit.
d.Cash, debit; Unearned Rent, credit.
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