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On October 1, 2020, Dean Company leased office space at a monthly rental of P300,000 for 10 years expiring September 30, 2030. As an inducement

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On October 1, 2020, Dean Company leased office space at a monthly rental of P300,000 for 10 years expiring September 30, 2030. As an inducement for Dean Company to enter into the lease, the lessor permitted Dean Cumpany to occupy the premises rent-tree from October 1 to December 31, 2020 Required: Prepare journal entries on the books of the lessor for 2020, 2021 and the last year 2030

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