On October 1, Kelly Company received $25,500 for six months of rent, in advance. Kelly credited Rent Revenue, which is an alternate way of recording the initial receipt of cash. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on:
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Home » Business » On October 1, Kelly Company received $25,500 for six months of rent, in advance. Kelly credited Rent Revenue, which is an alternate way of recording the initial receipt of cash.