angel314
Feb 26, 2012, 08:55 PM
On October 1, the company received 6 months' rent in advance from a tenant whose rent is $700 per month. The $4,200 was credited to the unearned rent acct. Record the adjustment necessary to recognize three month's rent.
If anyone is out there is this right? I posted Rent expense 2100 and unearned rent 2100. Wasn't sure if posting was to unearned rent or prepaid rent
If anyone is out there is this right? I posted Rent expense 2100 and unearned rent 2100. Wasn't sure if posting was to unearned rent or prepaid rent