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Silas rented an office building to Cam for $4,500 per month. On December 29, 2018, Silas received a deposit of $7,000 in addition to the
Silas rented an office building to Cam for $4,500 per month. On December 29, 2018, Silas received a deposit of $7,000 in addition to the first and last months' rent. Occupancy began on January 2, 2019. On July 15, 2019, Cam closed his business and filed for bankruptcy. Silas had collected rent for February, March, and April on the first of each month. Silas had received May rent on May 10, but collected no payments afterwards. Silas withheld $400 from the deposit because of damage to the property and $2,250 for unpaid rent. He refunded the balance of the deposit to Cam. Requirement What amount would Silas report as gross income for 2018? for 2019? Begin by selecting the labels to show the items that will comprise Silas's 2018 gross income, and then enter the amounts to compute the 2018 gross income amount. (If an input field is not used, leave the input field(s) empty; do not select a label or enter a zero.) Taxable item 2018 Gross income
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