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2) Which is the proper accounting treatment in year one for rent received on a 10-year lease with rent steps? a) Debit: Cash; Debit: Straight

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2) Which is the proper accounting treatment in year one for rent received on a 10-year lease with rent steps? a) Debit: Cash; Debit: Straight Line Rent A/R; Credit: Rent Revenue b) Credit: Cash; Credit: Straight Line Rent A/R; Debit: Rent Revenue c) Credit: Cash; Debit: Straight Line Rent A/R; Debit: Rent Revenue d) Debit: Cash; Credit: Straight Line Rent A/R; Credit: Rent Revenue

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