On October 1, Goodwell Company rented warehouse space to a tenant for 3,900 per month. The tenant paid five months' rent in advance on that date. with the lease beginning Immediately. The cash receipt was credited to the Unearned Revenue account. The company's annual accounting period ends on December 31. The year-end adjusting entry needed on December 31 is: Multiple Choice Debit Uneamed Re 11,700 credit Rent Revenue. 11,700 Revenue. Debit Unearned Revenue. 7,800 credit Rent Revenue 7,800 Debit Uneamed Revenue 19,500 credit Rent Revenue. 19,500. Debit Accounts Recelvable. 11,700 credit Rent Revenue. 11,700. Debit Accounts Recelvable. 19,500 credit Rent Revenue. 19,500.

To determine the correct year-end adjusting entry, we need to calculate the amount of rent revenue that has been earned by December 31.1. The tenant paid five months' rent in advance on October 1.2. The monthly rent is