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What is the rental revenue for the year

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Reference no: EM133137111

Question - Dustco Corp. has a subsidiary which specializes in the rental of the heavy equipment. Some customers prepay their rentals and other customers are billed periodically for rent owed. The following are account balances of the year:

 

Beginning Balance

Ending Balance

Rent Receivable

$32,000

$45,000

Unearned Rent Revenue

$37,000

$60,000

During the year the company recognized $700,000 in cash inflows for rentals. What is the rental revenue for the year?

Reference no: EM133137111

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