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Neema owns a rental property. Her tenant, Elena, had a job change and moved out of town. She had paid $1,200 rent per month, January through October of 2022. Per the

Neema owns a rental property. Her tenant, Elena, had a job change and moved out of town. She had paid $1,200 rent per month, January through October of 2022. Per the

FINANCIAL ACCOUNTING
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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Neema owns a rental property. Her tenant, Elena, had a job change and moved out of town. She had paid $1,200 rent per month, January through October of 2022. Per the lease, Elena paid an early lease cancellation penalty of $1,000. Neema was unable to rent the property to a new tenant until January 2023, when Kaiser moved in and began paying $1,200 per month. How much total rental income does Neema report for 2022? $12,000 $13,000 $13,200 $14,400
Transcribed Image Text:Neema owns a rental property. Her tenant, Elena, had a job change and moved out of town. She had paid $1,200 rent per month, January through October of 2022. Per the lease, Elena paid an early lease cancellation penalty of $1,000. Neema was unable to rent the property to a new tenant until January 2023, when Kaiser moved in and began paying $1,200 per month. How much total rental income does Neema report for 2022? $12,000 $13,000 $13,200 $14,400
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