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MMP Limited decided to rent out spare office space at $2,000 (not HST taxable) per month and collected rent for the month of December plus

MMP Limited decided to rent out spare office space at $2,000 (not HST taxable) per month and collected rent for the month of December plus the last months rent deposit. MMP Limited has agreed that interest will be accrued to the tenant on the last months rent deposit at a rate of 6% per annum.

What are the journal entries?

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