On June 1, 2015, Little Corporation received $5,320 in advance for a two-year rental of...
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Accounting
On June 1, 2015, Little Corporation received $5,320 in advance for a two-year rental of some land and properly credited Unearned Rent. In the adjusting entry at December 31, 2015, there would be a
debit to Unearned Rent for $1,108
credit to Rent Revenue for $1,552
credit to Unearned Rent for $1,552
debit to Unearned Rent for $5,320
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