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Oriole Company received a check for $20160 on July 1, which represents a...

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Accounting

Oriole Company received a check for $20160 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $20160. Financial statements will be prepared on July 31. Oriole should make the following adjusting entry on July 31
debit Unearned Rent Revenue, $20160; credit Rent Revenue, $20160.
debit Cash, $20160; credit Rent Revenue, $20160.
debit Unearned Rent Revenue, $3360; credit Rent Revenue, $3360.
debit Rent Revenue, $3360; credit Unearned Rent Revenue, $3360.
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