On December 1,2018,Shamrock Company received $3,600 from Destiny,Inc.for rent of an office owned by Shamrock Company.The payment covers the period from December 1,2018 through February 28,2019.Shamrock Company recorded this as Deferred Rent Revenue when it was received on December 1.The adjusting entry on December 31 would include a:
A) credit to Rent Revenue of $1,200.
B) credit to Deferred Rent Revenue of $1,200.
C) debit to Rent Revenue of $1,800.
D) debit to Deferred Rent Revenue of $1,800.
Correct Answer:
Verified
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