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{"ops":[{"insert":"Sampson Manufacturing Company (SMC) has an empty warehouse that it rents out to a local beer distributor for a monthly rental fee of $6,000. Terms of the rental agreement include a 10-day payment grace period and an additional $200 monthly utility expense, necessary to maintain the beer distributor's products at the proper temperature, paid by SMC. Assuming that SMC records journal entries on a monthly basis, and that it receives the December monthly rent payment on January 9th, what is the adjusting journal entry (if any) made by SMC on December 31 (with December's $200 utility payment made on January 2)?\n-\t"},{"attributes":{"bold":true},"insert":"Debit Rent Receivable $6000"},{"insert":"\n"},{"attributes":{"bold":true},"insert":"-\tDebit Utilities Expense $200"},{"insert":"\n"},{"attributes":{"bold":true},"insert":"-\tCredit Rent Revenue $6000"},{"insert":"\n"},{"attributes":{"bold":true},"insert":"-\tCredit Utilities Payable $200"},{"insert":"\n\n\nThe answer is highlighted. Are there any other journal entries that I need to know for this question? Thank you.\n"}]}

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