(AICPA) . On July 1, 20x6, Gee, Inc., leased a delivery truck from Marr 9. Corp. under a 3-year operating lease. Total rent for the term of the lease will be P36,000, payable as follows: 12 months at P 500 = P 6,000 12 months at P 750 = 9,000 %3D 12 months at P1,750 = 21,000 %3D All payments were made when due. In Marr's June 30, 20x8, balance sheet, the accrued rent receivable should be reported as a. 0 (AICPA) b. 9,000 с. 12,000 d. 21,000

(AICPA) . On July 1, 20x6, Gee, Inc., leased a delivery truck from Marr 9. Corp. under a 3-year operating lease. Total rent for the term of the lease will be P36,000, payable as follows: 12 months at P 500 = P 6,000 12 months at P 750 = 9,000 %3D 12 months at P1,750 = 21,000 %3D All payments were made when due. In Marr's June 30, 20x8, balance sheet, the accrued rent receivable should be reported as a. 0 (AICPA) b. 9,000 с. 12,000 d. 21,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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