On October 1, 2009, Nautilus Co. received $15,300 for the rent of land for 12 months.
Journalize the adjusting entry required for unearned rent on December 31, 2009
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Expert's answer
2014-10-06T10:28:58-0400
To find the unearned rent we should calculate the rent for the last 3 month: $15,300x3/12 = $3,825 So, the entry should be: Debit Unearned Revenue $3,825 Credit Rent Revenue Credit $3,825
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