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What is the amount of accrued rent account on december

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Reference no: EM133143732

Question - ABC Company was engaged in leasing machinery. The following were obtained from the incomplete records of ABC related to their operating lease accounts:

Total collections from rent, Dec. 31, 2021 - P940,000

Total rent income recognized, Dec. 31, 2021 - P1,200,000

Unearned rent income, Dec. 31, 2020 - P600,000

Unearned rent income, Dec. 31, 2021 - P460,000

Accrued rent income, Dec. 31, 2020 - P345,000

Required - What is the amount of accrued rent account on December 31, 2021?

Reference no: EM133143732

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