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Generous Company leased a furniture and fixture under a one-year contract. The lessor grants Generous two months free rental. The lease is effective July 1,

Generous Company leased a furniture and fixture under a one-year contract. The lessor grants Generous two months free rental. The lease is effective July 1, 2021 and provides for a monthly rental of P12,000. The first payment will begin on September 1, 2021. How much is the rent expense to be recognized by Generous in 2021?

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