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An investor is buying a rental house that is occupied by a tenant who will remain in the property. The tenant paid the seller $2,100
An investor is buying a rental house that is occupied by a tenant who will remain in the property. The tenant paid the seller $2,100 rent on the first of the month. The closing date is April 14. Prorations will be made as of midnight the day before closing using the 365-day method. What will the closing statement entry be for prepaid rent?
$1,260.00
$1,190.00
$980.00
$910.00
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