REM Real Estate received a check for $27,000 on July 1 which represents a 6 monthadvance payment of rent on a building it rents to a client. Unearned Rent Revenue wascredited for the full $27,000. Financial statements will be prepared on July 31. REM RealEstate should make the following adjusting entry on July 31:a. Debit Unearned Rent Revenue, $4,500; Credit Rent Revenue, $4,500. b. Debit Rent Revenue, $4,500; Credit Unearned Rent Revenue, $4,500. c. Debit Unearned Rent Revenue, $27,000; Credit Rent Revenue, $24,000. d. Debit Cash, $27,000; Credit Rent Revenue, $27,000.
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