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    ddoster's Avatar
    ddoster Posts: 1, Reputation: 1
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    #1

    Oct 3, 2013, 01:18 PM
    Unearned rent had a credit balance on July 31 of 2,700, on July 31 the balance was a
    Unearned Rent had a credit balance of 2,700 on July 1st, on July 31st the balance was 700, what is the adjusting Journal entry?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 3, 2013, 03:02 PM
    The adjusting entry amount will be for the difference between $2,700 and $700.

    Your entry will be a debit to Unearned Rent and a credit to Rent Revenue for the difference between $2,700 and $700.
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