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.© BrainMass Inc. brainmass.com June 4, 2020, 12:20 am ad1c9bdddf
The solution provides adjusting journal entry for the Unearned rent adjustment.