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Leonard rents townhouses to tenants. When a tenant moves in, they are required to pay the first month's rent of $485 and prepay the last
Leonard rents townhouses to tenants. When a tenant moves in, they are required to pay the first month's rent of $485 and prepay the last month's rent of $485. In addition, the tenant must pay a refundable security deposit of $745. Leonard uses the accrual method for tax reporting. Upon receipt of the total funds required, Leonard must recognize $ _in rental revenue. If your answer is none, answer 0
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