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8. Ramirez Company received $9,600 on April 1, 20...

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Question

8. Ramirez Company received $9,600 on April 1, 2004 for one year's rent in advance and recorded the entire amount as Rent Revenue. Under the accrual accounting, the December 31, 2004 adjustment is: A. Decrease Rent Revenue and increase Unearned Rent by $2,400 B. Decrease Rent Revenue and increase Unearned Rent by $7,200 C. Decrease Unearned Rent and increase Rent Revenue by $2,400 D. Decrease Unearned Rent and increase Rent Revenue by 9600

 

Paper#3565 | Written in 18-Jul-2015

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