Reference no: EM132762796
During the year 2020, Peter Senen received P16,000,000 from tenants. The statement of financial position contained the following data.
Rent receivable- January 1 P1,920,000
Rent receivable- December 31 2,480,000
Unearned rent revenue- January 1 6,400,000
Unearned rent revenue-December 31 4,800,000
Uncollectible rent written off during the year 1,000,000
Problem 1: What amount of rent revenue should be reported for the current year?
a. 18,160,000
b. 19,160,000
c. 15,960,000
d. 17,160,000
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