Answer:
A multiple choice offshore suppliers are changing the way work
<span>C) Renters don’t have to pay for major repairs to the property.</span>
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180 days of the most recent paycheck reflecting the discrepancy.
Answer:
A liability account in the balance sheet.
Explanation:
When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;
Debit Cash account
Credit Unearned/Deferred rental revenue
The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.
As such, the collection of rent in advance is A liability account in the balance sheet.
