Wildhorse Co. received a check for $25920 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 $32400. Financial statements will be prepared on July 31. Wildhorse's should make the following adjusting entry on July 31:a. debit Unearned Rent Revenue, $25920; credit Rent Revenue, $25920. b. debit Unearned Rent Revenue, $4320; credit Rent Revenue, $4320.c. debit Cash, $25920; credit Rent Revenue, $25920.d. debit Rent Revenue, $4320; credit Unearned Rent Revenue, $4320.

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.

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