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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 of the current year, the company receives rental income of $ for a year 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 $
b $
c $
d $
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