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Business, 11.10.2019 04:30 zaylencollins55

Leonard's lofts rents townhouses to tenants. when a tenant moves in, they are required to pay the first month's rent of $525 and prepay the last month's rent of $525. in addition, the tenant must pay a refundable security deposit of $600. leonard's lofts uses the accrual method for tax reporting. upon receipt of the $1650, leonard's initial lofts must recognize in rental income.

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