Accounting

Hakim has a rental house that he placed in service on January 1,2022. On that date, the tenant (Felipe) signed a two-year lease and paid Hakim a refundable $1,200 security deposit along with January rent of $950. Felipe paid rent of $950 each month of 2022, and prepaid his last month's rent of $950 as well. How much rental income will Hakim report for 2022? $11,400 $12,350 $12,600 $13,550