On december 16 2012 keen company received 5400 from smith, Ask an Expert

Accounting

On December 16, 2012, Keen Company received $5,400 from Smith Company for rent on an office building owned by Keen. The $1,800 covers the period December 16, 2012, through February 15, 2013.

Required:

If Keen Company credited Unearned Rent to record the $5,400 rent collected on December 16, the adjusting entry needed on December 31, 2012, would include

Select one:

A credit to Rent Revenue of $1,350
A credit to Unearned Rent of $1,350
A debit to Rent Revenue of $2,700
A debit to Unearned Rent Revenue of $2,700

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164336

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