Adjusting Entry for unearned rent
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Adjusting Entries: Unearned rent at 1/1/10 was $10,300 and at 12/31/10 was $6,000. The records indicate cash receipts from rental sources during 2010 amounted to $50,000, all of which was credited to the Unearned Rent Account. You are to prepare the missing adjusting entry. For each journal entry write Dr for debit and Cr for credit.
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The solution explains the adjusting entry for unearned rent
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The missing entry would be rent revenue earned. The beginning balance in unearned ...
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