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I am unable to solve the 2nd questions On May 1, 2021, Cedar Corp. paid $432,000 for rent on a new warehouse space for a

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I am unable to solve the 2nd questions

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On May 1, 2021, Cedar Corp. paid $432,000 for rent on a new warehouse space for a one year period beginning on May 1, 2021. On November 1, 2021, Cedar Corp. entered into a lease agreement to rent out its old warehouse space it was no longer using. This agreement calls for Cedar to receive $10,000 per month from the lessee, due and payable at the end of the 5-month lease term. At December 31, 2021, none of the rental payments from the lessee had yet been received. Q 3 If Cedar makes the appropriate adjusting entry, how much will be reported for rent expense on the income statement for the year ending December 31, 2021? Note: your answer should be formatted as a whole number without currency symbols or punctuation. Answer: 288000 Q 4 If Cedar makes the appropriate adjusting entry, how much will be reported on the December 31, 2021 balance sheet as rent receivable? Note: your answer should be formatted as a whole number without currency symbols or punctuation

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