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A company receives rent for sub-letting the top floor of its offices. Rent is receivable quarterly in advance as follows: $9,000 on 1 February 2019
A company receives rent for sub-letting the top floor of its offices. Rent is receivable quarterly in advance as follows: $9,000 on 1 February 2019 for the quarter ended 30 April 2019 $9.000 on 1 May 2019 for the quarter ended 31 July 2019 $9,000 on 1 August 2019 for the quarter ended 31 October 2019 $9.900 on 1 November 2019 for the quarter ended 31 January 2020 $9,900 on 1 February 2020 for the quarter ended 30 April 2020 What figures, based on these receipts, should appear in the financial statements for the year ended 31 March 20207 Statement of Profit or Loss Statement of Financial Position a. $37,500 b. $37.500 c. $37,200 d. $37,200 $3,300 Deferred income $6,600 Accrued income $3,300 Deferred income $6,600 Accrued income
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