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Somerset Leasing Received $12,000 for 24 Months' Rent in Advance

Question 31

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Somerset Leasing received $12,000 for 24 months' rent in advance. How should Somerset record this transaction?


A) Somerset Leasing received $12,000 for 24 months' rent in advance. How should Somerset record this transaction? A) B) C) D)
B) Somerset Leasing received $12,000 for 24 months' rent in advance. How should Somerset record this transaction? A) B) C) D)
C) Somerset Leasing received $12,000 for 24 months' rent in advance. How should Somerset record this transaction? A) B) C) D)
D) Somerset Leasing received $12,000 for 24 months' rent in advance. How should Somerset record this transaction? A) B) C) D)

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