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The document discusses accounting treatments for rent received and rent received in advance. When a business receives rent from tenants, it records a journal entry debiting cash and crediting rent revenue. Rent received in advance is treated as a liability in the balance sheet since the business has not yet provided the rental services. The journal entry debits cash and credits unearned rent liability. As the rental period passes, the business credits unearned rent and debits rent revenue through journal en

Author

Muhedin Hussen

Language

EN