On December 1, 2020, Greens Corp

Multiple Choice

On December 1, 2020, Greens Corp. leased office space for 10 years at a monthly rental of $ 40,000, under an operating lease. On that date Greens paid the landlord the following amounts: Greens debited the entire $ 270,000 payment to Prepaid Rent. How much should Quincannon recognize as rent expense for the year ended December 31, 2020?

A) $ 40,000
B) $ 41,250
C) $ 27,000
D) $ 154,000