Business, 06.07.2021 20:40 mommer2019

On October 1, Goodwell Company rented warehouse space to a tenant for $2,900 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. Assuming adjustments are only made at year-end, the adjusting entry needed on December 31 is:

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On October 1, Goodwell Company rented warehouse space to a tenant for $2,900 per month. The tenant p...