Trey Company entered into the following two transactions. Trey prepares financial statements annually at December $31.$

a$.$ Trey rents a building for $$3,700$ per month beginning December $1.$ By agreement, Trey paid cash for both December and January rent on January $2.$

b$.$ Trey rents space in a building it owns to a tenant for $$950$ per month. Trey agreed to allow the tenant to delay payment for December and January rent until January $3$ when the tenant paid cash for both months.