Bay City Corporation received $21,000 for 12 months rent in advance. What entry is used to record this transaction?
A)
Cash
21,000
Prepaid Rent
21,000
B)
Rent Expense
21,000
Cash
21,000
C)
Cash
21,000
Unearned Revenue
21,000
D)
Unearned Revenue
21,000
Rent Revenue
21,000
Answer: C
Business
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