Question
The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31, 20X1. The following information was obtained from Superior Corporations
The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31, 20X1. The following information was obtained from Superior Corporations balance sheets:
| 1/1/X1 | 12/31/X1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unearned Rent | $ | 7,500 | $ | 6,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rent Receivable | $ | 9,250 | $ | 6,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
How much cash did Superior collect from its tenants during 20X1?
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Auditing Today
Authors: Emile Woolf
6th Edition
0135894662, 978-0135894668
