On November 1, 2019, Gordon Co. collected $31,800 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30, 2020, at which time the contract may be renewed.

c. If a larger advance collection was received on November 1, 2019, that had covered a longer 18-month lease period (at the same amount of rent per month), how should Gordon Co. report the unearned rent amount on its December 31, 2019, balance sheet?

WHAT IS THE CURRENT LIABILITY

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