Maindohevoker CHAPTER 3 THE ADJUSTING PROCESS Study Progn Ac

Maindohevoker CHAPTER 3- THE ADJUSTING PROCESS Study Progn Activity Take: Practice! Adjustment for Unearned Revenue Question 1 1 pt Adjustment for Unearned Revenue On June 1, 2019, Herbal Co. received $31,000 for the rent of land for 12 months. Journalize the adjusting entry required for unearned rent on December 31, 2019. Round your answers to the nearest dollar amount. Dec. 31 Submit Answer Try Another Version Save and Exit Submit Assignment for Gr Cengage Learning Cengage Technical Support O Type here to search

Solution

Date General Journal Debit Credit Dec. 31 Unearned rent($31,000 * 7/12) $18,083 Rent revenue $18,083