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Business, 11.05.2021 02:10 cassiuspricerules

Blue Spruce Corp. received a check for $27840 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 $27840. Financial statements will be prepared on July 31. Blue Spruce's should make the following adjusting entry on July 31: debit Unearned Rent Revenue, $4640; credit Rent Revenue, $4640. debit Cash, $27840; credit Rent Revenue, $27840. debit Unearned Rent Revenue, $27840; credit Rent Revenue, $27840. debit Rent Revenue, $4640; credit Unearned Rent Revenue, $4640.

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Blue Spruce Corp. received a check for $27840 on July 1 which represents a 6 month advance payment o...
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