Analyze unearned rent account and prepare adjusting entry.
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Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000. The records indicate cash receipts from rental sources during 2010 amounted to $40,000, all of which was credited to the Unearned Rent Account. You are to prepare the missing adjusting entry. Please indicate DR (debit ) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.
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Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000. The records indicate cash receipts from rental sources during 2010 amounted to $40,000, all of which was credited to the Unearned Rent Account. You are to prepare the missing adjusting entry. Please indicate DR (debit ) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.
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Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000. The records indicate cash receipts from rental sources during 2010 ...
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