Which debit or credit is correctly included in the adjusting

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Reference no: EM133375385

Question: On September 1 of Year 1, Dee Company received cash for rent in advance. This rental receipt covers the period from September 1 of Year 1 to August 31 of Year 2. This receipt of cash was recorded as a liability, Unearned Rent. Which debit or credit is correctly included in the ADJUSTING journal entry necessary on December 31 of Year 1 with respect to this rent received in advance?

Reference no: EM133375385

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