(Answered) Question - need within 20 min or less on september 1 murphy

Accounting

Question - Need within 20 min or less On September 1, Murphy Company received $15,000 for six months of rent in advance.

Required:

1. How much would be recognized as rent revenue by the end of the year.

2. How much will be in the Unearned Rent account by the end of the year, after the adjusting entries have been prepared and posted.

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