### What is mark rental income

Assignment Help Accounting Basics
##### Reference no: EM13129568

Mark Mayer, a cash basis taxpayer, leased property on June 1, 2011 to Perry Purly at \$325 a month. Perry paid Mark \$325 as a security deposit, which will be returned at the end of the lease. In addition, Perry paid \$650 in advance rent, which is to be applied as rent to the last two months in the lease term. The lease is to run for a two-year period. What is Mark's rental income for 2011?

\$1,950
\$2,275
\$2,600
\$2,925

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