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A review of the accounting records discovered that unearned rent revenue in the amount of $1,500 had ...

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A review of the accounting records discovered that unearned rent revenue in the amount of $1,500 had ...

A review of the accounting records discovered that unearned rent revenue in the amount of $1,500 had been incorrectly recorded as $2,200. Which of the following journal entries will correct the ledger accounts if the business records unearned revenues by crediting a revenue account?
A)
Unearned rent revenue   700
Cash      700

B)
Accounts payable   700
Rent revenue      700

C)
Rent revenue   700
Unearned rent revenue      700

D)
Rent revenue   700
Cash      700

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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