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What amount should appear on the closing balance sheet

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Reference no: EM132979159

Now suppose that the next two semi-annual rent payments are:

February 28th, 2021 $36,000

August 31st, 2021 $42,000

Problem 1: What amount should appear in the 2021 income statement? What amount should appear on the closing balance sheet for 2021? Record these transactions in a transaction worksheet.

Reference no: EM132979159

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