Business, 16.04.2020 19:58, haleygrobertson8948
Jose started renting a house to Bill for $600 per month beginning February 1, 2019. Bill paid $1,200 on January 15, 2019, which included one month’s rent and one month’s security deposit. The rent is due by the 5th of the month. The lease specifies that the security deposit will also be used as the final month’s rent. Bill pays the rent on the 2nd of each month. Bill also paid $150 for repairs to the air-conditioning system in July and $80 for a roof repair in September. He deducted the amounts from the rent paid to Jose for those months. Bill was unable to pay December’s rent until January of the next year. How much should Jose report as rental income for 2019?
Answers: 1
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Jose started renting a house to Bill for $600 per month beginning February 1, 2019. Bill paid $1,200...
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