1. The insurance premium in the exhibit covers a period ofone yearsix monthstwo years2. Using the version for Unearned Rent, you can determine that monthly rent revenue on the land is $3. Two entries are displayed for which version of the exhibit?Fees Earned $15,000, Received customer payment on account $9,000Unearned Rent $1,800Fees Earned $15,000, Received customer payment on account $0Prepaid Insurance $7,5004. The version of the exhibit with an entry to asset accounts only isUnearned Rent $1,800Prepaid Insurance $7,500Fees Earned $15,000, Received customer payment on account $9,000Fees Earned $15,000, Received customer payment on account $0
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