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Jonathon Rolfson

Feb 20, 2025

Under the accrual basis, Marr should report rental revenue of?

Marr Corp. reported rental revenue of $2,210,000 in its cash basis federal income tax return for the year ended November 30, 2006. Additional information is as follows:Rents receivable - November 30, 2006 $1,060,000Rents receivable - November 30, 2005 $800,000Uncollectible rents written off during the fiscal year $30,000Under the accrual basis, Marr should report rental revenue of?
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Bernhard White

Feb 20, 2025

Rent Receivable increased 260,000, not decreased.BB + Rental Revenue Earned - Collections - Write offs = EB800 + ? - 2,210 - 30 = 1,060Revenue Earned = 2,500,000... Show More
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