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Question - Bay Meadows Real Estate collected rentals of $600,000 during the year. The beginning balance in its rent receivable account was $60,000 and its ending balance was $40,000. What was total rent revenue for the year?
$590,000
$580,000
$620,000
$631,000
When accounting for pension costs, how should the payment into the pension fund be recorded? How does it affect the funded status of the plan?
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