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Blake Corporation uses the accrual basis of accounting. Its fiscal year is from January through December. On July 1 of the current year, the company

Blake Corporation uses the accrual basis of accounting. Its fiscal year is from January through December. On July 1 of the current year, the company receives rental income of $12,000 for a 1year lease of office space in its building. At the end of the fiscal year, what amount of rental income is reported on its income statement?
a. $6,000
b. $12,000
c. $0
d. $8,000

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