Solution-What amount of advance rent must Carl report as

What amount of advance rent must Carl report as income

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Reference no: EM132547236

Question - Carl has a new tenant whose lease began on December 1st and who paid the following: First three month's rent $3,000 ($1,000 per month) Security deposit $1,500 (to be returned at the time the tenant moves out) Last month's rent $1,000. What amount of advance rent must Carl report as income?

a) $5,500

b) $4,000

c) $3,000

d) $1,000

Reference no: EM132547236

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What amount of advance rent must Carl report as income

Reference no: EM132547236

Reference no: EM132547236

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