Business, 28.02.2020 21:59, gimpypeach

Cheyenne Corp. received a check for $15840 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $15840. Financial statements will be prepared on July 31. Cheyenne's should make the following adjusting entry on July 31:
a. Debit Unearned Rent Revenue, $15840; Credit Rent Revenue, $15840.
b. Debit Cash, $15840; Credit Rent Revenue, $15840.
c. Debit Unearned Rent Revenue, $4710; Credit Rent Revenue, $4710. d. Debit Rent Revenue, $4710; Credit Unearned Rent Revenue, $4710.

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Cheyenne Corp. received a check for $15840 on July 1, which represents a 6-month advance payment of...