Question

journal entry worksheet
on november 1, the company received $9,900 cash for 6 months rent in advance from a tenant whose rent is $1,650 per month starting november 1. the $9,900 was credited to the unearned revenue account on november 1. no adjustments were made after november 1.
note: enter debits before credits.
transaction general journal debit credit
d unearned revenue
rent revenue

Explanation:

Step1: Determine monthly rent revenue

The rent is $1,650 per month.

Step2: Record adjusting entry

Since one - month has passed (from November 1), we need to recognize one - month's rent revenue. We debit Unearned Revenue (to reduce the liability) and credit Rent Revenue (to recognize the earned revenue). The amount is $1,650 for each.

Answer:

Transaction	General Journal	Debit	Credit
	Rent revenue		$1,650