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What amount should be reported as rent revenue

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Question - Umasa Company reported rental revenue of P2,210,000 in the cash basis income tax return for the year ended November 30, 2020. Rent receivable - Nov. 30, 2020 is P1,060,000; Rent receivable - Nov. 30, 2019 is P800,000; and Uncollectible rent written off during the fiscal year is P30,000. Under accrual basis, what amount should be reported as rent revenue?

Reference no: EM133110952

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