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Prepare the required adjusting entry at December

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Reference no: EM132811628

Question - Manning, Co. collected 6-months' rent in advance from a tenant on November 1 of the current year. When it collected the cash, it recorded the following entry:

Nov. 1 cash 15,000

Rent Revenue earned 15,000

Prepare the required adjusting entry at December 31 of the current year.

Reference no: EM132811628

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