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A company rents out a business premises to a craftsman. The tenant pays the rent quarterly in advance. On 20/12 2020, payment was received for
A company rents out a business premises to a craftsman. The tenant pays the rent quarterly in advance. On 20/12 2020, payment was received for the rent for the first quarter of 2021. The quarterly rent amounts to SEK 12,000. IB 2020 on the relevant interim account amounted to SEK 10,500. The company has received rent payments from the craftsman for a total of SEK 33,000 during 2020 (reconciled 2020-12-31)
How large is the balance in the relevant interim account at the end of 2020? Also indicate if it is an interim claim or an interim debt?
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College Accounting A Practical Approach Chapters 1-25
Authors: Jeffrey Slater, Mike Deschamps
15th Edition
0137504284, 9780137504282
