Question
On September 1, Year 1, Company D received a $3,000 security deposit from the tenant on an office Company D had rented to a tenant
On September 1, Year 1, Company D received a $3,000 security deposit from the tenant on an office Company D had rented to a tenant for two years. This amount is expected to be returned to the tenant at lease end if no repairs are needed. The rental period started on September 1, Year 1. The rental agreement requires the tenant pay Company D $1,100 per month at the start of each month. Additionally, the lease agreement required the tenant to pay Company D at the start of the lease for the last month of the lease term. All payments occur as required. Required: $_________ Year 1 Rent Revenue $_________ Any liabilities Company D might have related to this lease at Dec. 31, Year 1 [If none, so state.] $_________ Rent Receivable at Dec. 31, Year 1 [If none, so state] Required: $_________ Year 2 Rent Revenue $_________ Any liabilities Company D might have related to this lease at Dec. 31, Year 2 [If none, so state.] $_________ Rent Receivable at Dec. 31, Year 2 [If none, so state.] $_________ Cash received for rent on this office in Year 2
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