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FDN Trading is renting out a portion of its building. On July 1, 2022, it received a one-year advance rental for P415,000 from one of

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FDN Trading is renting out a portion of its building. On July 1, 2022, it received a one-year advance rental for P415,000 from one of its tenants. The advance rent covers the period from July 1, 2022 to June 30, 2023. How much should be reported as Rent Income for the year ended December 31, 2022

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