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Find metlock should make the adjusting entry on july

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Problem 1: Metlock, Inc. received a check for $16200 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $16200. Financial statements will be prepared on July 31. Metlock's should make the following adjusting entry on July 31:

A. debit Unearned Rent Revenue, $2700; credit Rent Revenue, $2700.
B. debit Rent Revenue, $2700; credit Unearned Rent Revenue, $2700.
C. debit Cash, $16200; credit Rent Revenue, $16200.
D. debit Unearned Rent Revenue, $16200; credit Rent Revenue, $16200.

Reference no: EM132750393

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