mhasnat
Oct 6, 2009, 01:59 PM
Received 15000 for 12 months rent in advance how shoud I record this transaction
Rowdy816
Oct 6, 2009, 03:15 PM
Cash 15000
Unearned Rent Revenue 15000
Debit - Cash (Asset), Credit - Unearned Revenue Account (liability)
bgriffi3
Oct 9, 2009, 04:23 PM
Debit unearned rent... 15000
... Credit rent revenue... 15000
morgaine300
Oct 11, 2009, 01:42 AM
bgriffi3, first, we aren't here just to do people's homework for them. Second, you are giving the entry for an adjusting entry instead of the entry for the receipt of the cash. Even if OP had asked for the adjusting entry, there isn't enough information for you to know that it would be 15,000.
Considering that you have been on here asking questions about these very types of adjusting entries, I wonder if you find it appropriate to be answering other people's questions about them?