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How much does ben report as his ratable share

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Question - On January 1, Year 1, Ben and Jerry each own 50% of the B&J Fudge partnership. B&J Fudge employs the cash method of accounting and receives $1,000 in interest income each month from an unrelated party loan receivable. On July 1, Year 2, Jerry purchased 50% of Ben's partnership interest. There were no changes in partnership interest for Year 1. How much does Ben report as his ratable share of the interest income for Year 1?

A. $6,000

B. $3,000

C. $4,500

D. $7,500

Reference no: EM132829589

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