In what year does she report rent

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 47P
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In December 20X1, Julia paid for January's 20X2's rent
ahead of time. Assume that Julia's business has a
December 31 year end. In what year does she report rent
expense?
O Both years
O 20X2
O Neither year
O 20X1
Transcribed Image Text:In December 20X1, Julia paid for January's 20X2's rent ahead of time. Assume that Julia's business has a December 31 year end. In what year does she report rent expense? O Both years O 20X2 O Neither year O 20X1
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