An entity received cash of P24,000 on August 1 for one-year's rent in advance and recorded the transaction on that day as a credit to unearned rent revenue for the full amount. The December 31 adjusting entry is: a. Rent revenue 10,000 Unearned rent revenue 10,000 b. Unearned rent revenue 24,000 Rent revenue 24,000 C. Rent revenue 14,000 Unearned rent revenue 14,000 d. Unearned rent revenue 10,000 Rent revenue 10,000

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