On April 1, Angelina Jolie paid cash of $800,000 to rent out a mountain cabin from Swift Realty Inc. for four months during the following winter to film her new movie. Swift Realty should record the following journal entry when Angelina's check is received. O Debit Cash, Credit Unearned Revenue O Debit Prepaid Rent, Credit Cash O Debit Unearned Revenue, Credit Cash O Debit Cash, Credit Prepaid Rent ONone of the above

On April 1, Angelina Jolie paid cash of $800,000 to rent out a mountain cabin from Swift Realty Inc. for four months during the following winter to film her new movie. Swift Realty should record the following journal entry when Angelina's check is received. O Debit Cash, Credit Unearned Revenue O Debit Prepaid Rent, Credit Cash O Debit Unearned Revenue, Credit Cash O Debit Cash, Credit Prepaid Rent ONone of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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