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What is the adjusting entry for on december of current year

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Reference no: EM132817824

Problem 1: Franchise Company is in the business of leasing apartment units for short-term periods. The rent for each apartment unit is Php 6,000 per month. When a tenant pays rent, cash is debited and the corresponding credit is rent revenue. However, the tenant of one of the units being leased failed to pay rent for November and December. If any, what is the adjusting entry for on December 31 of the current year?

Reference no: EM132817824

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