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What amount of rental revenue should be reported

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Reference no: EM132808301

During 2020, Wayo Corp. received P8,000,000 from tenants. The balance sheet contained the following data:

                                             2019              2020
Rentals receivable      P 960,000         P1,240,000
Unearned rentals        3,200,000    2,400,000

Problem 1: What amount of rental revenue should be reported for 2020?

Reference no: EM132808301

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