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Q: Troy Co has a property rental business and received cash totalling $838,600 from tenants during the year ended 31 December 2006.
Figures for rent in advance and in arrears at the beginning and end of the year were:
——————————————-31 Dec 2005——31 Dec 2006
Rent received in advance———–102,600————–88,700
Rent received in arrears————–42,300—————48,400
(arrears were all subsequently received)What amount should appear in Troy Co’s statement of profit or loss for the year ended 31 December 2006 for rental income?
You have asked another question which is exactly the same but with different numbers.
I have just answered your other question and so you should not be able to do this one by yourself.
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