St Augustine Properties Collected Advance Rentals of $350,000 from Its

Multiple Choice

St. Augustine Properties collected advance rentals of $350,000 from its customers during the year. The balance in the unearned rent revenue account increased from $20,000 on January 1 to $35,000 on December 31. Rents earned during the year totaled ________.

A) $370,000
B) $365,000
C) $335,000
D) $385,000