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12. ABC Co is on accrual basis. Receives in Dec 2019 $1,200,000 in rent from TENANTCO - Lease begins on 1/1/20 and will run for

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12. ABC Co is on accrual basis. Receives in Dec 2019 $1,200,000 in rent from TENANTCO - Lease begins on 1/1/20 and will run for 2 years. The payment was all in advance - covers the entire 2 year lease period. What entries do you - accountant at ABC Co- make in 2019 2020 2021 to record this transaction

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