With respect to the calculation of net rental income, which of the following is incorrect?

A: Expenses that increase the useful life of the rental property and/or improve the condition of the rental property (i.e. an enduring benefit) are deductible from gross rents earned from the property.

B: Interest on debt used to purchase the rental property is deductible from the gross rents earned from the property.

C: Expenses related to repair and maintenance of the rental property are deductible from gross rents earned from the property.

D: Net rental income is recorded on an accrual basis.