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What adjusting entries the rent income account has a balance

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Reference no: EM132609186

Question 1: Coppers Estate collects rents from several properties. Prior to recording adjusting entries, assume the Rent Income account has a credit balance of $8,000. Two adjustments are to be made at the end of the financial year: (i) an accrual for accrued rent income of $600 is to be recorded; (ii) the Unearned Rent Income account is to be decreased by $200. After processing these adjusting entries the Rent Income account has a balance (ignore GST):

Select one:

a. $8,600

b. $7,200

c. $7,600

d. $8,800

Reference no: EM132609186

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