Fragmental co. leased a portion of its store to another company for eight months beginning on october 1, at a monthly rate of $800. fragmental collected the entire $6,400 cash on october 1 and recorded it as unearned revenue. assuming adjusting entries are only made at year-end, the adjusting entry made by fragmental co. on december 31 would be:
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Home » Business » Fragmental co. leased a portion of its store to another company for eight months beginning on october 1, at a monthly rate of $800. fragmental collected the entire $6,400 cash on october 1 and recorded it as unearned revenue.