On November 1 of the current year, Uneraned Rent was credit for $3,000. This amount...
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Accounting
On November 1 of the current year, Uneraned Rent was credit for $3,000. This amount represented the rent earned for a three month( November, December and January) period beginning November 1. The Journal entries at December #1 is (amount earned)
Debit unearned Rent $1,000 and Credit rent Income $1,000
Debit unearned Rent $2,000 and Credit rent Income $2,000
Debit rent Income $2,000 and Credit rent Unearned Income $2,000
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