Multiple Choice
On November 1,Phone Center received $4,800 for two years' rent in advance from Garrison Company.The November 30 adjusting entry that Phone Center should make is to:
A) debit Rental Income;credit Unearned Rent $3,000.
B) debit Cash;credit Rental Income $3,000.
C) debit Unearned Rent;credit Rental Income $200.
D) debit Unearned Rent;credit Rent Expense $200.
Correct Answer:
Verified
Correct Answer:
Verified
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