How should gordon co. report the unearned rent amount

Reference no: EM133360184

On November 1, 2019, Gordon Co. collected $10,380 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed. Suppose the advance collection received on November 1, 2019, covered an 18-month lease period at the same amount of rent per month. How should Gordon Co. report the unearned rent amount on its December 31, 2019, balance sheet?

Reference no: EM133360184

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