Is the entry correct: Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000.

Is the entry correct:1. Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000. The records indicate cash receipts from rental sources during 2010 amounted to $40,000, all of which was credited to the Unearned Rent Account. You are to prepare the missing adjusting entry. DR Rental Revenue, $700CR Unearned Rent, $700

Is the entry correct:1. Unearned rent at 1/1/10 was $7,300 and at 12/31/10 was $8,000. The records indicate cashreceipts from rental sources during 2010 amounted to $40,000, all of which was…

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